Metso (2020–present)

Last updated

Metso Corporation
Native name
Metso Oyj
Company type Julkinen osakeyhtiö
Nasdaq Helsinki:  METSO
Industry Industrial machinery
Predecessor Metso
Outotec
Founded1 July 2020;4 years ago (2020-07-01)
Headquarters,
Key people
Kari Stadigh (Chairman), Pekka Vauramo (President and CEO)
ProductsIndustrial company serving the mining, construction and recycling industries
Number of employees
15,600 (2020) [1]
Website www.metso.com

Metso Corporation (natively Metso Oyj) [2] is a Finnish publicly traded company that was established in 2020 when Outotec and Metso Minerals merged. [3] The company is focusing on providing technology and services for mining, aggregates, recycling and metal refining industries. [4]

Contents

The European Commission accepted Metso's and Outotec's merger on 13 May 2020 [5] and the company started operations on 1 July 2020. [6]

The company changed its name from Metso Outotec to Metso in May 2023. [7]

Organization

Metso's president and CEO Pekka Vauramo  [ fi ] became the company's president and CEO. Mikael Lilius, former chairman of the Board of Metso, is the chairman of the board, and Matti Alahuhta, former chairman of the board of Outotec, is the deputy chairman of the board. [8] The company employs a total of more than 15,000 people worldwide in more than 50 countries. [9]

In February 2023, Metso Outotec board of directors announced a proposal to shareholders on company name change from Metso Outotec Corporation to Metso Corporation. [10] The grounds for the proposal were that the post-merger integration of the two companies had been completed and that the company strategy going forward focused on a strong unified company brand. Shareholder vote on the proposal was scheduled for annual general meeting on 3 May 2023. The name was changed on 4 May 2023. [7]

On November 1, 2024 Sami Takaluoma became President and CEO. [11]

Related Research Articles

Valmet Oyj, a Finnish company, is a developer and supplier of process technologies, automation systems and services for the pulp, paper, energy industries. Flow control serves a wider base of process industries.

Sampo is a leading Northern European P&C insurance group with operations in the Nordics, Baltics, and the UK.

Outokumpu Oyj is a group of international companies headquartered in Helsinki, Finland, with 10,600 employees in more than 30 countries. Outokumpu is the largest producer of stainless steel in Europe and the second largest producer in the Americas. Outokumpu also has a long history as a mining company, and still mines chromium ore in Keminmaa for use as ferrochrome in stainless steel. The largest shareholder of Outokumpu is the Government of Finland, with 26.6% ownership, including the shares controlled by Solidium, The Social Insurance Institution of Finland, Finnish State Pension Fund and Municipality Pension Agency.

Fiskars Group, is a Finnish consumer goods company founded in 1649 in Fiskars, a locality now in the town of Raseborg, Finland, about 100 kilometres (62 mi) west of Helsinki. It is one of the oldest continuously operating companies in the World. Fiskars' global headquarters are located in the Keilaniemi district of Espoo, near Helsinki.

<span class="mw-page-title-main">Metso</span> Finnish industrial machinery company

Metso Corporation was a Finnish industrial machinery company focusing on providing technology and services for mining, aggregates, and oil and gas, recycling, pulp and paper and other process industries.

Cargotec Oyj is a Finnish company that makes cargo handling machinery for ships, ports, terminals and local distribution.

<span class="mw-page-title-main">Neste</span> Finnish oil company

Neste Oyj is an oil refining and marketing company located in Espoo, Finland. It produces, refines and markets oil products, provides engineering services, and licenses production technologies. Neste has operations in 14 countries.

Larox, founded in 1977 and headquartered at Lappeenranta, Finland, was a Finnish engineering company that developed, designed and manufactured industrial filters for use in mining and metallurgy, chemical processing and related industries.

Ahlstrom Oyj is a manufacturer of fiber-based products. Renewable fibers represent about 95% of Ahlstrom's total fiber use.

Outotec Oyj was a Finnish company, headquartered in Espoo, aimed at providing technologies and services for the metal and mineral processing industries. In 2020, Outotec merged with Metso Minerals and new company is called Metso Outotec.

Göran Albert Casimir "Casse" Ehrnrooth, titled Vuorineuvos, was a Finnish magnate and former chairman of the Nokia Corporation. His business career began in the forest industry, and later he was a director of UPM-Kymmene and Merita-Nordbanken.

<span class="mw-page-title-main">Matti Alahuhta</span> Finnish business executive

Matti Juhani Alahuhta was the President & CEO of KONE Corporation (2005–2014). Earlier he worked 26 years at Nokia Corporation and was Member of Nokia's Executive Board from 1993 to 2004. He is Chairman of the Board of DevCo Partners Oy. He is also Member of the Board of Directors of Kone Corporation (2003-) and AB Volvo (2014-).

<span class="mw-page-title-main">Chile–Finland relations</span> Bilateral relations

Chile–Finland relations are foreign relations between Chile and Finland. Chile recognised Finland's independence on June 17, 1919. Diplomatic relations between them were established in 1931 and have been continuously maintained, despite pressures at times to discontinue them. The two countries maintain resident ambassadors in both capitals.

Niklas Savander is a Finnish businessman currently active as a Chairman and Private Equity adviser. Savander was previously President and CEO of Elekta AB a Swedish listed company focused on Cancer treatment systems. Before his Elekta presidency Savander was the Executive Vice President of the markets unit of Nokia Corporation. Savander became a member of the Nokia Group executive Board in 2006, having joined the company in 1997.

<span class="mw-page-title-main">Citec</span> Finnish engineering company

Citec is a company that provides plant and product engineering, engineering consultancy as well as in technical documentation. The company trades within energy, process, oil & gas and machinery & equipment sectors.

Solidium Oy is a Finnish state-owned investment company. Founded in 1991, Solidium's original purpose was to manage the property of SKOP Bank, which went bankrupt in the early 1990s recession.

<span class="mw-page-title-main">Atria (company)</span> Finnish food industry company

Atria Plc is a Finnish food industry company. Atria's roots date from 1903, when a co-operative for livestock sales was founded. Atria is listed on the Helsinki stock exchange, NASDAQ OMX Helsinki.

Componenta is a contract manufacturer of cast and machined metal components, located in Finland. Its customers are typically global manufacturers of vehicles, machines and equipment. Componenta is listed on Nasdaq Helsinki.

Neles Oyj was a Finnish publicly traded company offering flow control products and services for process industries. The Neles trademark was originally filed in 1956 by Finnish engineers Antti Nelimarkka and Eino Santasalo. In July 2019, it was announced that Metso Minerals and Outotec would merge in 2020 into a new large mineral company called Metso Outotec. At the same time, the remaining Metso was transformed into Neles. The company started operations on 1 July 2020.

<span class="mw-page-title-main">Katja Keitaanniemi</span> Finnish business executive

Katja Keitaanniemi is the CEO of OP Corporate Bank, which is the most significant subsidiary of OP Financial Group. According to Corporate Finance Institute, OP Corporate Bank is among the top corporate banks in Finland. Keitaanniemi has been on the list of Finland's most powerful female executives by the business weekly Talouselämä in 2020, 2021, 2022 and 2023.

References

  1. "Key facts". Metso Outotec. Retrieved 11 August 2020.
  2. "Metso Oyj". Kauppalehti (in Finnish). Retrieved 16 October 2023.
  3. "Metso Corporation's partial demerger has been registered – Metso Corporation and Outotec Oyj have completed the combination of Metso's Minerals business and Outotec". Metso Outotec. Retrieved 11 August 2020.
  4. "Metso Outotec starts operations –partner for aggregates, minerals, metals and recycling industries". Bioenergy International. Retrieved 12 September 2020.
  5. "Euroopan komissio siunasi Outotecin ja Metso Mineralsin yhdistymisen". Helsingin Sanomat (in Finnish). Retrieved 15 September 2020.
  6. "Metso Outotec starts operations –partner for positive change for tomorrow's aggregates, minerals, metals and recycling industries". Metso Outotec. Retrieved 11 August 2020.
  7. 1 2 "Metso Outotec's name changes to Metso". metso.com. Retrieved 12 June 2023.
  8. "Metso jakautuu kahtia, Metso Minerals ja Outotec yhdistyvät – Toimitusjohtaja Vauramo: Aivan varmasti henkilöstövaikutuksia tulee". Yle (in Finnish). Retrieved 15 September 2020.
  9. "Juuri yhdistynyt Metso Outotec vähentää jopa 280 työntekijää Suomesta". Satakunnan Kansa (in Finnish). Retrieved 15 September 2020.
  10. "Proposal on company name change to Metso Outotec's Annual General Meeting". Metso Outotec. Retrieved 8 March 2023.
  11. Pizzoleo, Javiera (25 October 2024). "Sami Takaluoma is appointed as President and CEO of Metso". miningreporters.com. Retrieved 19 December 2024.