Jacobs and Metso Announce Transaction in Iron Ore Pelletizing Business

Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it has sold its iron ore pelletizing intellectual property and other assets to Metso Corporation.Officials did not disclose the terms of the agreement, but confirmed the transaction between Jacobs and Metso has closed.Jacobs and Metso previously shared interests in the straight grate iron ore pelletizing business, with Jacobs providing process engineering and Metso providing machine design. Jacobs and Metso recognized the opportunity to streamline their offerings to customers by consolidating ownership within Metso through this sale.