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25 January 2018

Eeva Sipilä appointed interim Metso president and CEO amid rising sales

First publishedon www.AggBusiness.com

Metso's Board of Directors have appointed company CFO Eeva Sipilä as the quarrying and mining equipment heavyweight’s new interim CEO and president, as of 3 February 2018. Current CEO and president, Nico Delvaux, will leave his duties on 2 February. His resignation was announced on 18 December 2017. The search for a new CEO and president is under way.

Sipilä’s appointment comes after the Finnish global OEM announced that its fourth-quarter 2017 sales are expected to total €710 million, an increase of 5% from Q4 2016.

However, profitability of the Minerals segment came in weaker than expected, due to a higher than estimated share of equipment sales compared to services sales and a weak margin of the services business.

Metso's adjusted earnings before interest, tax, depreciation and amortisation (EBITA) is estimated at €64 million, corresponding to a margin of 9.1% (Q4/2016: €64 million and 9.4%).

Metso's fourth-quarter orders received are estimated at €684 million (Q4/2016: €672 million).

Metso says it will publish its fourth-quarter and full-year 2017 results on Friday, 2 February 2018, and until then will refrain from giving additional details on its results due to the ongoing silent period.

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