Metso and Outotec combine into one company

Metso Flow Control becomes a separately listed independent company

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.
Extraordinary General Meeting
Extraordinary General Meeting (EGM)will be held on Tuesday, October 29, 2019 in Helsinki. The purpose is to resolve on the Partial Demerger of Metso and combination with Outotec.

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