Metso Outotec, a new company focussed on leadership in sustainable minerals and metals processing and recycling technologies, officially began operations Wednesday.
The merger was in the works for a years, and Metso and Outotec OYJ last month received an unconditional merger control clearance from the European Commission for the combination.
Headquartered in Finland and listed on Nasdaq Helsinki, Metso Outotec employs over 15,000 professionals in more than 50 countries and its combined sales for 2019 were €4.2 billion.
The company provides crushing and screening equipment for the production of aggregates as well as equipment and solutions for minerals processing, metals refining, chemical processing, and metal and waste recycling.
Metso Outotec brings together a history of technological leadership, and the business the combination offers potential for significant cross-selling and cost synergies and a platform for innovation, and digital leadership, the company said in a media release.
The growing interest towards the environment and the impacts of climate change, urbanization, decreasing ore grades and electrification are forcing traditional industries like aggregates, minerals processing and metals refining to redefine their license to operate, Metso Outotec said.
”It is our core expertise to help our customers transform the industry. We offer sustainable technologies and services that reduce the consumption of energy and water by increasing process efficiency, recycling and reprocessing of tailings and waste,” president and CEO Pekka Vauramo said in the release.
“We have the best talent in the industry, and I am very excited to start the journey together today,” Vauramo added.