Finland-based equipment maker Metso Corp.’s board of directors and Finland-based Outotec Oyj have announced that the combination of Metso’s Minerals business and Outotec is completed. Outotec is a designer and builder of minerals processing and metals refining systems.
The companies announced a demerger plan and combination agreement in July 2019. The companies received unconditional merger control clearance from the European Commission in May.
According to a news release from Metso, the completion of Metso’s partial demerger was registered at the Finnish Trade Register June 30. As a result of the transaction, Outotec is now Metso Outotec Corp. The new company is focused on sustainable minerals and metals processing and recycling technologies. Headquartered in Helsinki, Metso Outotec employs more than 15,000 people in more than 50 countries and its combined sales for 2019 were 4.2 billion euros (or about $4.7 billion).
The company will offer crushing and screening equipment for the production of aggregates as well as equipment and solutions for minerals processing, metals refining, chemical processing and metal and waste recycling. Metso Outotec’s service capabilities are complemented with a range of spare and wear parts, refurbishments and professional services.
“It is our core expertise to help our customers transform the industry,” says Pekka Vauramo, president and CEO of Metso Outotec. “We offer sustainable technologies and services that reduce the consumption of energy and water by increasing process efficiency, recycling and reprocessing of tailings and waste. Our extensive offering and expertise help our customers improve their business and lower their risks.”