Metso Outotec Corporation’s press release on December 9, 2020, at 09:00 a.m. EET
Metso Outotec is reorganizing its Metals business as part of the earlier announced turnaround program. The target is to create an operational model for Metals capital and services that suits the scale and nature of the business today and meets the specific demands of the Metals refining segment customer base.
”The restructuring and turnaround program aims to improve Metals’ competitiveness and financial performance as well as ensure more granular management of the various businesses and resources. The restructuring will enable us to size and scope our offering and resources in a more efficient way,” says Jari Ålgars, President, Metals business area at Metso Outotec.
Approximately 1,100 employees working with the Metals capital and service business around the world are within the scope of the restructuring program. According to the plans, restructuring is estimated to lead to a maximum 160 redundancies in the Metals operations globally, corresponding to targeted savings of EUR 15 million. These figures include personnel working in Finland, where the number of redundancies is estimated to be 60 employees at most. The impact of the restructuring on different employee groups will be determined during the first quarter of 2021. Actions will be taken in compliance with local employment legislation in the countries in question.
Further information, please contact:
Jari Ålgars, President, Metals business area, Metso Outotec, tel. +358 20 529 2007, email: jari.algars(at)mogroup.com
Helena Marjaranta, Vice President, Communications and Brand, Metso Outotec, Tel. +358 20 484 3212, email: helena.marjaranta(at)mogroup.com
Metso Outotec is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing, metals refining and recycling industries globally. By improving our customers’ energy and water efficiency, increasing their productivity, and reducing environmental risks with our product and process expertise, we are the partner for positive change.
Headquartered in Helsinki, Finland, Metso Outotec employs over 15,000 people in more than 50 countries and its pro forma sales for 2019 were about EUR 4.1 billion. The company is listed on the Nasdaq Helsinki. mogroup.com, www.metso.com/twitter/