Metso Corporation and Outotec Oyj have received the regulatory approvals needed for the combination of Metsos Minerals business and Outotec through a partial demerger of Metso in accordance with the demerger plan and combination agreement signed last year.
The boards of directors of Metso and Outotec are expected to resolve to complete the combination on 30 June 2020.
After absorbing the Metso Minerals Business, Outotec will become Metso Outotec Corporation. Simultaneously, Metso will be renamed Neles Corporation. Pekka Vauramo, the current Metso president and CEO will hold the same positions at Metso Outotec. Olli Isotalo, the current Metso president, Valves will be president and CEO of Neles.
Metso Outotec will consist of the following six business areas:
Aggregates, providing crushing and screening equipment for the production of aggregates.
Minerals, providing equipment and full plant solutions for minerals processing, covering comminution, separation and pumps.
Metals, providing processing solutions and equipment for metals refining and chemical processing.
Recycling, providing equipment and services for metal and waste recycling.
Services, providing spare parts, refurbishments and professional services for mining, metals and aggregates customers.
Consumables, providing a comprehensive offering of wear parts for mining, metals and aggregates processes.