UK's Vesuvius to acquire Brazilian and U.S. businesses

Mon Aug 18, 2014 3:12am EDT

Aug 18 (Reuters) - Vesuvius Plc said it had agreed to buy businesses in Brazil and the United States for a total of about 30 million pounds ($50 million) to strengthen its position as a technical services provider to the steel and foundry industries.

The company, which sold its non-core businesses to focus on the steel and foundry markets last year, said on Monday the purchase of Brazil-based Ecil Met Tec and California-based Process Metrix LLC was expected to add to earnings from 2015.

Ecil Met Tec, part of Brazil's Ecil Group, makes consumable thermocouples used to measure the temperature of molten metal in the steel making process.

It has operations in Brazil and the United States.

Process Metrix supplies laser units used to measure refractory wear in vessels used in steel-making. ($1 = 0.5979 British pounds) (Reporting by Esha Vaish in Bangalore; Editing by Ted Kerr)

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