The decision relates to the forthcoming partial demerger of Finnish quarrying equipment company Metso, which is expected to take place on June 30 this year.
Following the merger, Metso's Minerals business will be combined with Outotec to create Metso Outotec, a unique company in the minerals, metals and aggregates industries. At the same time, the valves business will continue as an independent listed company called Neles. The new Metso Outotec operation will consist of six business areas: Aggregates, providing crushing and screening equipment for the production of aggregates; Minerals, providing equipment and full plant solutions for minerals processing, covering comminution, separation and pumps; Metals, providing processing solutions and equipment for metals refining and chemical processing; Recycling, providing equipment and services for metal and waste recycling; Services, providing spare parts, refurbishments and professional services for mining, metals and aggregates customers; Consumables, providing a comprehensive offering of wear parts for mining, metals and aggregates processes.
Several appointments have been made to the future Metso Outotec executive team.
Markku Simula will become president, aggregates. He currently serves as president, aggregates equipment at Metso.
Stephan Kirsch will be president, minerals. He currently serves as president, mining equipment at Metso.
Jari Ålgars will be president, metals. He currently serves as the CFO at Outotec.
Uffe Hansen will be president, recycling. He currently serves as president, recycling at Metso.
Markku Teräsvasara will be president, services and deputy CEO. He currently serves as the president and CEO at Outotec.
Sami Takaluoma will be president, consumables. He is currently president, minerals consumables at Metso.
A number of function heads and executive team members have also been appointed. Eeva Sipilä will be CFO and deputy CEO. Her appointment was announced on July 4, 2019. Currently, she serves as the CFO and deputy CEO at Metso.
Nina Kiviranta will become general counsel. She currently serves as general counsel at Outotec.
Piia Karhu will become senior VP, business development. She currently serves as senior VP, customer experience at Finnair. She will join the company on July 1, 2020.
Hannele Järvistö will be senior VP, human resources (interim). She currently serves as senior VP, human resources (interim) at Metso. This appointment is valid until a new position-holder has been selected and starts in this role.
All the new appointees will report to Metso Outotec's future president and CEO Pekka Vauramo.
"I'm confident that led by this team, we will create a strong culture and deliver the benefits of the combination to our customers, shareholders and employees," said Vauramo. "Above all, Metso Outotec will be strong in sustainability. Our extensive combined offering for minerals processing from equipment to a broad range of services will help our customers improve their profitability and lower their operating costs and risks, while also reducing the consumption of energy and water. We at Metso Outotec understand our customer's world and the daily challenges they face. Together, we will partner for positive change."
The planned IFRS reporting segments of Metso Outotec will align with the customer segments and will be Aggregates, Minerals and Metals & Recycling. The new segment reporting is due to start from July, when the operations will be combined, hence from the Q3/2020 interim report.