Company type | Julkinen osakeyhtiö |
---|---|
Nasdaq Helsinki: OTE1V | |
Industry | Basic resources, engineering |
Founded | 2006 [1] |
Defunct | 1 July 2020 |
Headquarters | Espoo, Finland |
Key people | Markku Teräsvasara (President and CEO) Matti Alahuhta (Chairman) [2] |
Products | Metal and mineral processing machinery and process engineering |
Revenue | €1,276.5 million (2018) [3] |
−€66.1 million (2018) [3] | |
−€67.3 million(2018) [3] | |
Total assets | €481.5 million(2018) [3] |
Total equity | €377.4 million (2018) [3] |
Number of employees | 4,012 (2018) [3] |
Subsidiaries | Larox |
Website | www.outotec.com |
Outotec Oyj (Outokumpu Technology prior to 24 April 2007 [4] ) 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. [5]
The firm concentrated on producing machines and methods which facilitate the various stages of extractive metallurgy and mineral processing from ore through to pure metal or mineral, including the grinding and physical separation of ores and the smelting and leaching of base and precious metals. The company also provides engineering and after-sales services for its products.
Outotec was previously a wholly owned business area of Outokumpu, having been established in the late 1940s, but it was spun off as a separate entity in June 2006 when the parent company decided to concentrate on its primary concern of stainless steel. [6] A listing on the Helsinki Stock Exchange followed shortly afterwards, and the company was promoted to the benchmark OMX Helsinki 25 as a result of the index's February 2007 reclassification.
Mining is the extraction of valuable geological materials and minerals from the surface of the Earth. Mining is required to obtain most materials that cannot be grown through agricultural processes, or feasibly created artificially in a laboratory or factory. Ores recovered by mining include metals, coal, oil shale, gemstones, limestone, chalk, dimension stone, rock salt, potash, gravel, and clay. The ore must be a rock or mineral that contains valuable constituent, can be extracted or mined and sold for profit. Mining in a wider sense includes extraction of any non-renewable resource such as petroleum, natural gas, or even water.
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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.
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