Metso and Outotec have jointly announced the combination of Metso Minerals and Outotec to create a leading company in process technology, equipment and services serving the minerals, metals and aggregates industries, and Metso Flow Control to become a separately listed independent flow control equipment and services company under the name of Neles.
Metso Outotec in numbers
Employees
Metso Outotec has about 15,600 employees.
Sales
Illustrative combined sales EUR 4.2 billion in 2018, with McCloskey included.
Shares
Metso shareholders to own 78% and Outotec shareholders 22% of the combined company.
CEO
Pekka Vauramo will be the CEO of Metso Outotec.
“We are excited about the unique opportunities this combination will create for our customers, employees and partners globally. We will have an extensive global presence, complementary offering, strong services and a large installed base. We also have excellent people – the best talent in the industry.”
Pekka Vauramo, Metso’s President and CEO
“The combination of Outotec and Metso marks an important milestone in each companies’ histories and in Outotec’s strategic development. I am excited about the many benefits that the combination will deliver for customers, employees and ultimately shareholders, with the larger scale and combined strengths of both companies.”
Markku Teräsvasara, Outotec’s CEO
Neles in numbers
Employees
Neles has about 2,900 employees.
Sales
Neles sales are around EUR 593 million.
Shares
Independent from Metso Outotec and 100% owned by Metso’s shareholders.
CEO
Olli Isotalo will be the CEO of Neles.
“Neles offers an exceptional product portfolio and service offering with best-in-class profitability. Under the leadership of Olli Isotalo, Neles will have the means to capitalize on both organic and inorganic growth opportunities while continuing to focus on our customers’ needs and delivering intelligent solutions.”
Mikael Lilius, Chairman of Metso Board
Release and presentations
Release
- Combination of Metso Minerals and Outotec – Metso Flow Control to Become an Independent Company (Stock Exchange Release)
Investor materials
- An audiocast/conference call for investors and analysts on July 4 (video)
- Transcript of the investor call on July 4 (pdf)
- Investor presentation (pdf)
Media presentations
