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
Releases and other materials
Releases
- The Finnish Financial Supervisory Authority has approved a supplement to the prospectus prepared for the combination of Outotec and the Metso Minerals Business (Stock Exchange Release, Nov 15)
- Metso’s Nomination Board proposes Jukka Moisio to be elected Chair of the Board of Directors of the future Neles Corporation (Stock Exchange Release, Nov 13)
- The Finnish Financial Supervisory Authority has approved a supplement to the prospectus prepared for the combination of Outotec and the Metso Minerals Business (Stock Exchange Release, Oct 31)
- Metso Corporation announces positive results of consent solicitation from holders of certain notes issued under its EMTN Program (Stock Exchange Release, Oct 30)
- Extraordinary General Meeting approved Metso's partial demerger and combination with Outotec (Stock Exchange Release, Oct 29)
- The Finnish Financial Supervisory Authority has approved a supplement to the prospectus prepared for the combination of Outotec and the Metso Minerals Business (Stock Exchange Release, Oct 25)
- Metso publishes selected illustrative financial information for Metso Minerals Business for January–September 2019 and the comparison period of 2018 (Stock Exchange Release, Oct 25)
- Metso publishes illustrative financial information for its continuing Flow Control operations (the future Neles) for January–September 2019 and 2018 (Stock Exchange Release, Oct 25)
- The Finnish Financial Supervisory Authority has approved a supplement to the prospectus prepared for the combination of Outotec and the Metso Minerals Business (Stock Exchange Release, Oct 10)
- Metso Corporation launches consent solicitation from holders of certain notes issued under its EMTN Program (Stock Exchange Release, Oct 8)
- Moody’s Investors Service assigns a ‘Baa2’ and S&P Global Ratings assigns a ‘BBB-’ credit rating to the future Metso Outotec (Stock Exchange Release, Oct 8)
- Metso publishes illustrative financial information for its continuing Flow Control operations (new Neles) for the years 2016–2018 and for the periods January–June 2019 and 2018 (Stock Exchange Release, Oct 7)
- The Finnish Financial Supervisory Authority has approved the prospectus prepared for the combination of Outotec and the Metso Minerals Business (Stock Exchange Release, Oct 7)
- Simo Sääskilahti appointed Senior Vice President, Finance for Metso’s Valves business area (Press release, Oct 2)
- Metso’s acquisition of McCloskey completed (Stock Exchange Release, Oct 2)
- Metso has signed two revolving credit facilities for future Metso Outotec and future Neles (Stock Exchange Release, Sep 30)
- Combination of Metso Minerals and Outotec – Metso Flow Control to Become an Independent Company (Stock Exchange Release, Jul 4)
Prospectus (Offering Circular) materials:
- Supplement to the prospectus (November 15)
- Supplement to the prospectus (October 31)
- Supplement to the prospectus (October 25)
- Supplement to the prospectus (October 10)
- Metso Outotec Prospectus (Offering Circular) (approved by the FIN-FSA on October 7)
Videos and audiocasts
- An audiocast/conference call for investors and analysts (July 4)
- An audiocast/conference call for global media (July 4)
- A news conference in Finnish (July 4)
Other investor materials
- Results notice (attachment to the Oct 30 Stock exchange release)
- Neles illustrative carve-out financial information (attachment to the Oct 25 Stock exchange release)
- Metso Minerals update for selected financial information (attachment to the Oct 25 Stock exchange release)
- Moody's Investor Services Credit Opinion on Metso Outotec (full analysis, October 8)
- Moody's Investor Services Credit Opinion on Metso Outotec (attachment to the Oct 8 Stock exchange release)
- S&P Global Ratings Credit Opinion on Metso Outotec (full analysis, October 8)
- S&P Global Ratings Credit Opinion on Metso Outotec (attachment to the Oct 8 Stock exchange release)
- Financial information for new Neles (attachments to the Oct 7 Stock exchange release)
- Investor presentation (July 4)
- Transcript of the investor call (July 4)
- Metso Outotec Offering Circular (October 7)
