Metso to divide its Minerals Services into two business areas. Metso Corporation's stock exchange release on August 18, 2017 at 10:00 a.m. EET
Metso to divide its Minerals Services into two business areas
Metso Corporation's stock exchange release on August 18, 2017 at 10:00 a.m. EET
Metso will change its business area organization in the Minerals segment. The current Minerals Services business area will be divided into two separate business areas: Minerals Services and Minerals Consumables. Both new business areas will work in close co-operation with the Minerals Capital business to offer optimal end-to-end solutions for their customers. The heads of the business areas will report to Metso's President and CEO and they will be members of Metso's Executive Team. This organizational change will have no impact on Metso's external reporting.
The Minerals Services business area will consist of spare parts and service solutions as well as supporting distribution and repair center infrastructures. The Minerals Consumables business area will consist of wear part businesses together with the foundries and other manufacturing operations as well as supply chain infrastructure.
"The new structure will allow a natural split of the services businesses and a clearer focus to drive further growth for services in close co-operation with the minerals equipment businesses," says Nico Delvaux, President and CEO of Metso.
The new organizational structure will become effective at the beginning of 2018, and the Presidents of the new business areas will be nominated in the near future.
Metso is a world leading industrial company serving the mining, aggregates, recycling, oil, gas, pulp, paper and process industries. We help our customers improve their operational efficiency, reduce risks and increase profitability by using our unique knowledge, experienced people and innovative solutions to build new, sustainable ways of growing together.
Our products range from mining and aggregates processing equipment and systems to industrial valves and controls. Our customers are supported by a broad scope of services and a global network of over 80 service centers and about 6,000 services professionals. Metso has an uncompromising attitude towards safety.
Metso is listed on the NASDAQ OMX Helsinki, Finland, and had sales of about EUR 2.6 billion in 2016. Metso employs over 11,000 persons in more than 50 countries. Expect results. www.metso.com, twitter.com/metsogroup
Further information Global Communications, tel. 358 20 484 3212 Investor relations, tel. 358 20 484 3253
Distribution: NASDAQ OMX Helsinki Ltd Media www.metso.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients. The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Metso Corporation via GlobeNewswire