Metso Corporation's stock exchange release on October 25, 2012 at 1:00 p.m. local time
Metso announced on September 1, 2011 that it intended reviewing strategic alternatives for its Recycling business. As part of this process, Metso evaluated both external and internal options. The review concluded that integrating Recycling into the Mining and Construction segment was the best possible alternative for creating value for Metso.
'We are committed to developing the Recycling business as part of our Mining and Construction segment,' says Matti Kähkönen, Metso Corporation's President and CEO. 'We believe that by integrating Recycling in this way we will add value to the Recycling business and for Metso generally in terms of volume growth, cost competitiveness, and developing our overall offering. We are a forerunner and global market leader in metal and waste recycling, and our goal is to further strengthen our position here.'
Recycling will be integrated into Mining and Construction as of December 1, 2012. Restated historical figures for Mining and Construction including the Recycling business will be published later this year.
Recycling had net sales of EUR 212 million in 2011 and the business currently employs approx. 660 people, mainly in Germany, the US and Denmark.
Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas. Our 30,000 professionals based in over 50 countries deliver sustainability and profitability to customers worldwide. Expect results.
Further information, please contact:
Harri Nikunen, CFO, Metso Corporation, tel. +358 20 484 3010
Juha Rouhiainen, VP, Investor Relations, Metso Corporation, tel. +358 20 484 3253
VP, Investor Relations
NASDAQ OMX Helsinki Ltd
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Metso Corporation via Thomson Reuters ONE HUG#1652290