Arginta Engineering expands by acquiring a manufacturing plant in Finland
Arginta Engineering, an engineering industry and metal processing plant operating in Vilnius as well as Panevėžys, has signed an agreement to acquire the almost 20,000 square meter Outotec Turula Oy manufacturing plant located in Outokumpu, Finland. In 2020, the annual turnover of the plant, owned by Metso Outotec, exceeded EUR 30 million.
According to Tomas Jaskelevičius, Executive at Arginta Engineering, this transaction will have a significant impact on the company’s development. “We have invested in and acquired a Finland-based plant with over 40 years of experience in manufacturing equipment and components for the minerals processing and metals refining industries. This investment will enable to significantly increase the production capacity as well as turnover of Arginta Engineering and offer our customers a wider range of production services. We also plan to exchange competencies between Outotec Turula Oy and Arginta Engineering. Such exchange will allow our employees in Lithuania to learn new skills and gain experience from a Finnish company”, – says T. Jaskelevičius.
Following the completion of the acquisition, which is expected to take place on October 1st, Arginta Engineering and Metso Outotec intend to continue their collaboration, which has commenced already in 2003.
Metso Outotec is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing, and metals refining industries globally. Metso Outotec is headquartered in Helsinki, Finland, and employs over 15,000 people. Its sales in 2020 amounted to approx. EUR 3.9 billion. The company is listed on the Nasdaq Helsinki.
Arginta Engineering is one of the market leaders in the Lithuanian engineering industry providing machinery/equipment manufacturing services to brands that are well-known worldwide. The company currently employs over 200 employees; in 2020, the company’s sales turnover amounted to almost EUR 15 million.