Metso Minerals, a subsidiary of global industrial company Metso, has officially merged with Finnish-listed technology company Outotec.
The merger has formed a leading process technology, equipment and services company serving the minerals, metals and aggregates industries.
The combined company offers its customers 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 industry-leading service capabilities and global network are complemented with a comprehensive range of spare and wear parts, refurbishments and professional services.
Metso Outotec now employs 15 000 professionals in more than 50 countries
“Metso Outotec brings together a long history of technological leadership, customer focus and excellence in services, leveraging the strengths of both companies.
“The benefits to customers and other stakeholders are unmatched in the industry: full offering that ranges from orebody to metal, extensive global services network and significant investment in research and development, allowing the company to create sustainable technologies to the customers’ benefit,” the company says in a statement.
Additionally, the combination offers potential for significant cross-selling and cost synergies and an even stronger platform for innovation, digital leadership and growth.
Meanwhile, the growing interest towards the environment and the impacts of climate change, urbanisation, decreasing ore grades and electrification are forcing traditional industries such as aggregates, minerals processing and metals refining to redefine their license to operate.
Metso Outotec can drive these industries towards the responsible use of the world’s natural resources.
”It is our core expertise to help our customers transform the industry. 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. We are their partner for positive change,” says Metso Outotec president Pekka Vauramo.
Metso Minerals and Outotec first signed off on a demerger plan in July 2019, with Metso shareholders holding about 78% of shares and votes of Metso Outotec, and Outotec shareholders the balance.
The board members of Metso Outotec are chairperson Mikael Lilius, vice-chairperson Matti Alahuhta and directors Klaus Cawén, Christer Gardell, Hanne de Mora, Antti Mäkinen, Ian Pearce, Emanuela Speranza, Kari Stadigh and Arja Talma.
The company has established an audit committee to oversee Metso Outotec’s financial reporting and preparing issues for the board related to the monitoring of the company’s financial situation and risk management.
Metso Outotec also appointed a remuneration and human resources committee to review the company’s remuneration and incentive systems, as well as talent management and people development programmes.
To this end, the board of Metso Outotec has decided to establish a new share-based long-term incentive programme for the company’s management and selected key employees.
The programme includes a performance share plan for the top management, a deferred share plan for other senior management and selected key employees, and a restricted share plan as a complementary structure for specific situations.
The merged company will focus on eight market areas: North and Central America, South America, Europe, Africa, Russia and Commonwealth of Independent States, Middle East and India, Greater China and Asia Pacific.
By industry, the company's sales consists of 61% mining, 26% aggregates and 13% metals and recycling. By geography, 42% of the company's sales happen in the Europe, the Middle East and Africa region, followed by 35% in the Americas and 23% in Asia Pacific.
Vauramo confirms that the products under the Metso and Outotec brands, respectively, will not be renamed and the company will decide how joint developed products will be named going forward.
Metso Outotec has the full offering from ore to metal to improve customers' profitability, through sustainable technologies that reduce emissions and energy use, as well as water use.