Metso Corporation has agreed to sell 10 per cent of its shares of Valmet Automotive to ThyssenKrupp Automotive, one of the world’s biggest automotive systems suppliers with more than 120 factories in 16 countries.
According to an option in the agreement, ThyssenKrupp Automotive has the right to acquire all of Valmet Automotive’s shares during the next two years.
Valmet Automotive is a contract manufacturer that focuses on the development and manufacture of car bodies, interiors and convertible roofs.
The company assembles the Porsche Boxster and Saab 9-3 Convertible models at its site in Uusikaupunki.
ThyssenKrupp Automotive also plans to acquire p.a.d. Karosserietechnik GmbH, which specialises in the development of car bodies, interiors and engines.