SOURCE: Metso Outotec | September 16, 2022
Metso Outotec has closed the acquisition of Global Physical Asset Management, a technology provider based in North America. The acquisition will further strengthen Metso Outotec’s capabilities in digital field service inspections for grinding.
The innovative technologies and the digital inspection method of Global Physical Asset Management are patented and fully complementary to Metso Outotec’s current service offering for grinding. This will bring more value to customers and support them in achieving reliable plant performance. The acquired technology enables 60% faster gear inspections with outstanding accuracy when compared to the use of conventional methods.
“I am very pleased about this important step toward our strategic target to become the preferred services provider in our industry. The unique technology and digital inspection method fit excellently with our services strategy and grinding offering and will also bring potential to further develop our inspection capabilities for our crushing solutions. I warmly welcome our new colleagues to the Metso Outotec team,” says Sami Takaluoma, President, Services business area at Metso Outotec.
Metso Outotec has experience from designing, manufacturing and supplying over 8,000 grinding mills globally, including the manufacturing and supply of the largest SAG/AG mills in the world. With the acquisition of Global Physical Asset Management, Metso Outotec can leverage the strength of its extensive installed base and field service network and increase its capabilities to serve the third-party installed base.
Co-founders, Tom and Jason Shumka, say: “We are excited that we are now a part of a truly international company. Tom has expanded Global PAM’s markets by building strong relationships with customers and working with them to build efficient and reliable strategies that apply the latest innovative technologies. Jason has developed unique technologies for years, helping our customers achieve significant benefits. As we become a part of Metso Outotec, our innovative solutions, which we are very proud of, will become available for customers globally”.
The value of the acquisition is not disclosed. It will have no material impact on Metso Outotec’s financials.
About Global Physical Asset Management
Global Physical Asset Management is a privately owned technology company founded in 2007.
It has 20 employees in the United States and Canada, and it serves leading mining customers. Its sales in 2021 were approximately C$6 million (approx. €5 million). The company has offices in Kelowna, British Columbia, Canada; and in Wisconsin, USA.
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