Metso and Outotec will merge Metso Minerals with Outotec to create Metso Outotec, a key player in process technology, equipment and services serving the minerals, metals and aggregates industries. Metso Outotec will be headquartered in Helsinki, Finland and will maintain its listing on Nasdaq Helsinki.
Metso Flow Control will become a separately listed independent flow control equipment and services company named Neles. In 2018, Metso Outotec had combined sales of €3.9 billion while Neles had sales of €593 million.
Outotec chairman Matti Alahuhta said: “This is an industry-shaping combination that joins two uniquely complementary companies.”
“Metso Outotec will have capabilities that will enable us to drive sustainable growth, while providing our customers with high-quality technology, equipment and services that will ultimately improve their businesses,” said Metso CEO Pekka Vauramo. “We will have an extensive global presence, complementary offering, strong services and a large installed base.”
Image credit: Metso Flow Control