Metal 7 acquires mining shovel heavy lifting specialist Megatraction
To broaden its range of highly specialised products and solutions for the mining industry, Metal 7 Inc has announced the acquisition of the manufacturer Les Équipements Megatraction Inc, which is headquartered in Quebec City. Megatraction is a company that designs and manufactures a specialised range of lifting equipment for heavy electric shovels or hydraulic excavators used by the mining industry.Its MEGALIFTER® is the mining industry’s first and only patented heavy lift system designed specifically for undecking and redecking mine shovels. “Since 1997 MEGALIFTER® has been employed by the world’s most safety oriented mining operations to perform the critical maintenance functions on mine shovels of all types and sizes. With a design capacity of over 3,000,000 lbs MEGALIFTER® can safely lift the world’s largest mine shovels complete with truck and boom as well as the capability to include the handle and dipper if desired.”“Its patented technologies coupled with our expertise in international trade allow us to add a range of products that fit perfectly into our mission of delivering high performances solutions that increase our customer’s productivity,” said Marc-André Gervais, President and Chief Executive Officer of Metal 7.“Megatraction has the best technology of the industry but, because of its size, it was mainly limited to North American markets. With our commercial and financial capabilities this transaction will enable Megatraction to develop international markets and to accelerate the development of its range of solutions,” added Gervais. “The size of the global market is huge. The expertise and resources of Metal 7 will be catalysts to propel Megatraction,” added Robin Belley, General Manager of Megatraction.Metal 7 is a manufacturing company serving primary industry since 1974. It specialises in the design and manufacture of high performance equipment for the mining industry and aluminum smelters and it says it “distinguishes itself from the competition by its expertise in engineering and its international sales network.” Metal 7 exports more than 75% of its production in over 20 countries and its exports are mainly outside of North America.“The acquisition of Les Équipement Megatraction Inc is part of our expansion and consolidation initiative aiming to create a leading Canadian based company offering high value products and services for the mining sector, a company whose expertise is internationally recognised,” said Bruno Fortin, Chairman of the Board of Directors of Metal 7.