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{{Copyvio |timestamp=20240423020039 |url=Various foreign sources. Presumptive, see [[Wikipedia:Contributor copyright investigations/Jjanhone]]}} |
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{{Short description|Finnish industrial machinery company}} |
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{{About|the defunct Finnish corporation|the company founded in 2020|Metso (2020–present)|the library in Tampere called 'Metso'|Tampere Central Library|the surname|Metso (surname)}} |
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{{Use dmy dates|date=August 2020}} |
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{{paid contributions|date=March 2021}} |
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{{Infobox company |
{{Infobox company |
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| name = Metso |
| name = Metso Corporation |
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| native_name = Metso Oyj |
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| native_name_lang = fi |
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| image = Metso Rautpohja factory.jpg |
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| logo = Metso.svg |
| logo = Metso.svg |
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| logo_size = |
| logo_size = 220px |
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| type = [[Osakeyhtiö#Julkinen osakeyhtiö|Julkinen osakeyhtiö]] |
| type = {{Lang|fi|[[Osakeyhtiö#Julkinen osakeyhtiö|Julkinen osakeyhtiö]]}} |
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| traded_as = {{OMX| |
| traded_as = {{OMX|HEX36695|METSO}} |
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| foundation = {{start date |
| foundation = {{start date|1999}} |
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| defunct = {{End date|2020|7|1|df=yes}} |
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| predecessor = [[Valmet]], [[Rauma Oy]] |
| predecessor = [[Valmet]], [[Rauma Oy]] |
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| location_city |
| location_city = [[Helsinki]] |
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| location_country = [[Finland]] |
| location_country = [[Finland]] |
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| key_people = [[Mikael Lilius]] <small>([[Chairman]])</small>, Pekka Vauramo |
| key_people = [[Mikael Lilius]] <small>([[Chairman]])</small>, Pekka Vauramo <small>(President and [[chief executive officer|CEO]])</small> |
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| industry = [[Industrial machinery]] |
| industry = [[Industrial machinery]] |
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| products = Industrial company serving the [[mining]], [[construction]], [[recycling]], [[oil and gas]], [[pulp (paper)|pulp]], [[paper]] and [[process industries]] |
| products = Industrial company serving the [[mining]], [[construction]], [[recycling]], [[oil and gas]], [[pulp (paper)|pulp]], [[paper]] and [[process industries]] |
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| revenue = {{increase}} €3. |
| revenue = {{increase}} €3.6 billion <small>(2019)</small><ref name="FS2019">{{cite web |url=https://www.metso.com/siteassets/documents/2019/metso-financial-statements-review-2019_eng.pdf |title=Financial Statement 2019 |accessdate=6 February 2020 |publisher=Metso}}</ref> |
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| operating_income = {{increase}} |
| operating_income = {{increase}} €418 million <small>(2019)</small><ref name="FS2019">{{cite web |url=https://www.metso.com/siteassets/documents/2019/metso-financial-statements-review-2019_eng.pdf |title=Financial Statement 2019 |accessdate=6 February 2020 |publisher=Metso}}</ref> |
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| |
| num_employees = 15,000 <small>(end 2019)</small> |
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| assets = {{decrease}} €3.279 billion <small>(2018)</small><ref name="FS2018" /> |
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| equity = {{decrease}} €1.416 billion <small>(2018)</small><ref name="FS2018" /> |
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| num_employees = 13,150 <small>(end 2018)</small> |
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| homepage = [http://www.metso.com/ www.metso.com] |
| homepage = [http://www.metso.com/ www.metso.com] |
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}} |
}} |
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'''Metso Oyj''' |
'''Metso Corporation'''<ref>{{Cite web |url=https://www.valmet.com/media/news/neles-news-archive/metso-corporation-and-outotec-oyj-will-complete-the-combination-of-outotec-and-metsos-minerals-business/ |title=Metso Corporation and Outotec Oyj will complete the combination of Outotec and Metso's Minerals business |date=2020 |website=[[Valmet]] |access-date=16 October 2023}}</ref> (natively '''{{Lang|fi|Metso Oyj|italics=no}}''') was a Finnish [[industrial machinery]] company focusing on providing technology and services for [[mining]], [[Construction aggregate|aggregates]], and [[Petroleum industry|oil and gas]], [[recycling]], [[pulp and paper]] and other process industries. |
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On 30 June 2020, Metso's partial demerger and combination of Metso Minerals business unit and [[Outotec]] took place.<ref name="mogroup.com">{{Cite web|title=Metso Corporation's partial demerger has been registered – Metso Corporation and Outotec Oyj have completed the combination of Metso's Minerals business and Outotec|url=https://www.mogroup.com/news/2020/6/metso-corporations-partial-demerger-has-been-registered--metso-corporation-and-outotec-oyj-have-completed-the-combination-of-metsos-minerals-business-and-outotec/|access-date=8 July 2020|website=Metso Outotec|language=en}}</ref><ref>{{Cite web|title=Metso Corporation's partial demerger has been registered|url=https://www.neles.com/company/media/news/2020/6/metso-corporations-partial-demerger-has-been-registered/|access-date=8 July 2020|website=Neles.com|language=en}}</ref> Two new companies started operations on 1 July 2020: [[Neles]] and [[Metso Outotec]].<ref>{{Cite web |title=Valmet completes 14.9% ownership acquisition of Neles |url=https://www.valmet.com/media/news/press-releases/2020/valmet-completes-14.9-ownership-acquisition-of-neles/ |access-date=2022-07-20 |website=www.valmet.com |language=en}}</ref> |
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In July 2019, it was announced that Metso and Outotec are planning to combine Metso’s Minerals business unit with Outotec. The new company will be called [[Metso Outotec]].<ref name="immining20190704"/> |
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== History == |
== History == |
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===1990s=== |
===1990s=== |
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Metso was created on |
Metso was created on 1 July 1999 through the merger of Valmet, a paper and board machine supplier, and Rauma, which focused on fiber technology, rock crushing and flow control solutions. |
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In 1998 |
In 1998,Rauma's businesses included: |
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* Timberjack forest machines |
* Timberjack forest machines |
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# [[Rock crushing]] plants |
# [[Rock crushing]] plants |
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The name for the new company was sought in an employee contest. There were |
The name for the new company was sought in an employee contest. There were three suggestions for the name Metso among the total 6,500 suggestions. All the three who had suggested the name Metso received a monetary prize. Metso is the Finnish word for [[Wood Grouse]], also known as The Western Capercaillie (Tetrao urogallus), Heather Cock or Capercaillie. Wood Grouse is found across Europe lives e.g. in Finnish pine forests. Metso's logo mimics the shape of the wings of a Wood Grouse.<ref>{{cite web|url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-041026-2256F-E4845?OpenDocument#.Uu5fT_bmVhA|title=The late 1990s – Metso is born on Metso's website|accessdate=6 February 2014|publisher=Metso|url-status=dead|archiveurl=https://web.archive.org/web/20131203070757/http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-041026-2256F-E4845?OpenDocument#.Uu5fT_bmVhA|archivedate=3 December 2013}}</ref> |
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===2000s=== |
===2000s=== |
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Between 2004 and 2007, Metso's net sales increased from EUR 3.6 billion to EUR 6.3 billion, and the profit margin rose from 5.5 percent to 9.3 percent. |
Between 2004 and 2007, Metso's net sales increased from EUR 3.6 billion to EUR 6.3 billion, and the profit margin rose from 5.5 percent to 9.3 percent. |
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During Eloranta's tenure, Metso increased its net sales and improved its financial performance for 19 consecutive quarters ( |
During Eloranta's tenure, Metso increased its net sales and improved its financial performance for 19 consecutive quarters (2004–2008). |
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Metso's business functions had divided into three sectors (Metso Paper, Metso Minerals and Metso Automation) with over 28,000 employees and net sales of EUR 6.4 billion. In fact, at that point, it was Metso's best year ever in terms of operating profit and net sales, but the rapidly weakened market situation in the second half of the year forced Metso to initiate sizable measures to adjust its operations. |
Metso's business functions had divided into three sectors (Metso Paper, Metso Minerals and Metso Automation) with over 28,000 employees and net sales of EUR 6.4 billion. In fact, at that point, it was Metso's best year ever in terms of operating profit and net sales, but the rapidly weakened market situation in the second half of the year forced Metso to initiate sizable measures to adjust its operations. |
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===2010s=== |
===2010s=== |
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Matti Kähkönen was appointed the new President and CEO of Metso Corporation on |
Matti Kähkönen was appointed the new President and CEO of Metso Corporation on 1 March 2011. Previously, Kähkönen had headed Metso's Mining and Construction segment. Despite the global economic uncertainty, Metso's profitability grew steadily in 2011. The services business, with a value of over three billion euros, accounted for about 40 percent of orders received in 2011. |
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In September 2012, Metso announced the need for a personnel reduction of more than 600 Finnish employees in several of its business units serving the paper industry and paper production. The reason for the reductions is structural change in the industry and due to that the weakening of paper business unit's competitiveness and profitability: competition has increased, demand for paper machine and foundry products has weakened. Customers want cheaper solutions than before. Metso had planned to give extra dividend for its shareholders but after the decision of paying dividends while cutting staff was criticized e.g. by personnel and the Finnish politics the decision was cancelled. |
In September 2012, Metso announced the need for a personnel reduction of more than 600 Finnish employees in several of its business units serving the paper industry and paper production. The reason for the reductions is structural change in the industry and due to that the weakening of paper business unit's competitiveness and profitability: competition has increased, demand for paper machine and foundry products has weakened. Customers want cheaper solutions than before. Metso had planned to give extra dividend for its shareholders but after the decision of paying dividends while cutting staff was criticized e.g. by personnel and the Finnish politics the decision was cancelled. |
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In 2012, Metso agreed to form a joint venture with China's LiuGong Group to develop the track-mounted crushing business in China, consolidated its valve operations in the United States into new premises in Massachusetts and opened a new valve supply and service center in Vadodara, India. In the same year, Metso acquired the Korean valve manufacturer Valstone Control Inc., U.S. software company ExperTune Inc. and 75 percent of the Chinese crushing and screening equipment producer Shaorui Heavy Industries. |
In 2012, Metso agreed to form a joint venture with China's LiuGong Group to develop the track-mounted crushing business in China, consolidated its valve operations in the United States into new premises in Massachusetts and opened a new valve supply and service center in Vadodara, India. In the same year, Metso acquired the Korean valve manufacturer Valstone Control Inc., U.S. software company ExperTune Inc. and 75 percent of the Chinese crushing and screening equipment producer Shaorui Heavy Industries. |
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Metso Recycling business offers metal and waste recycling equipment and services globally. On September |
Metso Recycling business offers metal and waste recycling equipment and services globally. On 1 September 2011, Metso announced that the Recycling business would be managed as a separate entity while Metso reviews other strategic alternatives for it. As part of this process, Metso evaluated both external and internal options. On 25 October 2012, Metso announced that Metso Recycling will be integrated into Mining and Construction as of 1 December 2012. |
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In August 2013, Metso closed the acquisition of Chinese manganese steel foundry JX.<ref name="JX press release">{{cite web|title=Metso is acquiring a manganese steel foundry in China|url=http://www.metso.com/news/2013/2/metso-continues-to-strengthen-its-industry-leading-services-presence-and-capabilities-in-mining-and-/|publisher=Metso|accessdate=21 September 2016}}</ref> |
In August 2013, Metso closed the acquisition of Chinese manganese steel foundry JX.<ref name="JX press release">{{cite web|title=Metso is acquiring a manganese steel foundry in China|url=http://www.metso.com/news/2013/2/metso-continues-to-strengthen-its-industry-leading-services-presence-and-capabilities-in-mining-and-/|publisher=Metso|accessdate=21 September 2016}}</ref> |
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===2013 company demerge=== |
===2013 company demerge=== |
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On |
On 1 October 2013, the Extraordinary General Meeting approved the demerger of Metso into two companies.<ref>{{cite web|title=Metso's demerger approved by the Extraordinary General Meeting|url=http://www.metso.com/news/2013/10/metsos-demerger-approved-by-the-extraordinary-general-meeting/|website=metso.com/news|publisher=Metso|accessdate=22 September 2016}}</ref> At the start of 2014, Metso Corporation's Mining and Construction business and Automation business formed the new Metso Corporation and Metso's Pulp, Paper and Power business formed a new independent company under the name Valmet Corporation. |
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In December 2013 Metso reduced its holding in Valmet Automotive to approximately 41%. As a result of this arrangement, Valmet Automotive ceased to be a Metso subsidiary.<ref>{{cite web|title=Metso Corporation's holding in Valmet Automotive to be reduced as part of internal asset restructuring|url=http://www.metso.com/news/2013/12/metso-corporations-holding-in-valmet-automotive-to-be-reduced-as-part-of-internal-asset-restructuri/|website=Metso.com news|publisher=Metso|accessdate=22 September 2016}}</ref> |
In December 2013 Metso reduced its holding in Valmet Automotive to approximately 41%. As a result of this arrangement, Valmet Automotive ceased to be a Metso subsidiary.<ref>{{cite web|title=Metso Corporation's holding in Valmet Automotive to be reduced as part of internal asset restructuring|url=http://www.metso.com/news/2013/12/metso-corporations-holding-in-valmet-automotive-to-be-reduced-as-part-of-internal-asset-restructuri/|website=Metso.com news|publisher=Metso|accessdate=22 September 2016}}</ref> |
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In 2015, Metso divested its Process Automation Systems (PAS) business to Valmet |
In 2015, Metso divested its Process Automation Systems (PAS) business to Valmet, focusing on their mining and aggregates industries operations and on the flow control systems manufacturing business.<ref>{{cite web|title=Divestment of Metso's Process Automation Systems business to Valmet completed|url=http://www.metso.com/news/2015/4/divestment-of-metsos-process-automation-systems-business-to-valmet-completed/|website=Metso.com news|publisher=Metso|accessdate=22 September 2016}}</ref> |
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=== 2020 partial demerger and combination of Metso Minerals and Outotec === |
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In July |
In July 2019, it was announced that Metso and [[Outotec]] are planning to combine Metso’s Minerals business unit with Outotec. Their combination is complementary and the new company, [[Metso Outotec]] will leverage their strengths. The new company’s headquarters will be in Finland and it will maintain its listing on Nasdaq Helsinki. Before the transaction can be completed, the approval is needed by a majority of two-thirds of votes cast and shares represented at the respective EGMs of Metso and Outotec, as well as regulatory approvals.<ref name="immining20190704">{{Cite web|date=4 July 2019|title=Metso and Outotec to join together in 'industry-shaping combination'|url=https://im-mining.com/2019/07/04/metso-outotec-join-together-industry-shaping-combination/|access-date=22 July 2019|website=International Mining|language=en-GB}}</ref> |
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All regulatory approvals were received by 18 June 2020<ref>{{Cite web|title=Outotec Oyj and Metso Corporation have received all regulatory approvals for the combination of Outotec and Metso Minerals – completion expected to take place on June 30, 2020|url=https://www.mogroup.com/news/2020/6/outotec-oyj-and-metso-corporation-have-received-all-regulatory-approvals-for-the-combination-of-outotec-and-metso-minerals--completion-expected-to-take-place-on-june-30-2020/|access-date=8 July 2020|website=Metso Outotec|language=en}}</ref> and partial demerger was registered on 30 June 2020.<ref name="mogroup.com"/> Metso Outotec and Neles started operations on 1 July 2020. |
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=== 2020s === |
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In July 2023, it was announced Metso had acquired the [[Perth]]-headquartered bulk material handling company Brouwer Engineering.<ref>{{Cite web |date=2023-07-24 |title=Metso acquire Brouwer Engineering |url=https://agg-net.com/news/metso-acquire-brouwer-engineering |access-date=2023-08-09 |website=agg-net.com |language=en}}</ref> |
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==Organization== |
==Organization== |
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===Corporate governance=== |
===Corporate governance=== |
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Metso's President and CEO as well as Chairman of the Executive Team is Pekka Vauramo as of |
Metso's President and CEO as well as Chairman of the Executive Team is Pekka Vauramo as of 1 November 2018.<ref name="Metsomanagement">{{cite web|url=http://www.metso.com/company/Investors/corporate-governance/management-structure/|title=Metso's management on Metso's website|publisher=Metso|archive-url=https://web.archive.org/web/20160707223259/http://www.metso.com/company/investors/corporate-governance/management-structure/|archive-date=7 July 2016|url-status=dead|accessdate=10 October 2017}}</ref> |
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====Metso’s Board of Directors==== |
====Metso’s Board of Directors==== |
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Metso's Board includes the following members.<ref name="Decisions taken by Metso's Annual General Meeting 2019 and Metso's Board of Directors">{{cite web |url= |
Metso's Board includes the following members.<ref name="Decisions taken by Metso's Annual General Meeting 2019 and Metso's Board of Directors">{{cite web |url= |
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https://www.metso.com/news/2019/4/decisions-taken-by-metsos-annual-general-meeting-2019-and-metsos-board-of-directors/|title=Decisions taken by Metso's Annual General Meeting 2019 and Metso's Board of Directors|accessdate= |
https://www.metso.com/news/2019/4/decisions-taken-by-metsos-annual-general-meeting-2019-and-metsos-board-of-directors/|title=Decisions taken by Metso's Annual General Meeting 2019 and Metso's Board of Directors|accessdate=25 April 2019 |publisher=Metso}}</ref> |
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*[[Mikael Lilius]] (Chairman since |
*[[Mikael Lilius]] (Chairman since 31 December 2013. Board member since 2013.) |
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*[[Christer Gardell]] (Vice Chairman since |
*[[Christer Gardell]] (Vice Chairman since 31 December 2013. Board member since 2006.) |
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*Peter Carlsson ( |
*Peter Carlsson (2016–) |
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*Lars Josefsson (2013–) |
*Lars Josefsson (2013–) |
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*Nina Kopola (2013–) |
*Nina Kopola (2013–) |
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*Antti Mäkinen ( |
*Antti Mäkinen (2018–) |
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*Kari Stadigh |
*Kari Stadigh |
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*Arja Talma ( |
*Arja Talma (2016–) |
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*Raimo Brand |
*Raimo Brand |
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*Pekka Vauramo, President and CEO |
*Pekka Vauramo, President and CEO |
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*Eeva Sipilä, CFO and Deputy to CEO |
*Eeva Sipilä, CFO and Deputy to CEO |
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* |
*Stephan W Kirsch, President, Mining Equipment business area |
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*Markku Simula, President, Aggregates Equipment business area |
*Markku Simula, President, Aggregates Equipment business area |
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*Olli Isotalo, President, Valves |
*Olli Isotalo, President, Valves |
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====Competitors==== |
====Competitors==== |
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Metso's biggest competitors in the mining industry include [[FLSmidth]], [[Outotec]] and [[ThyssenKrupp]], and in the construction industry [[Terex]], [[Atlas Copco]], [[Caterpillar Inc.|Caterpillar]] and [[Sandvik]].<ref name="MiningConstruction">{{cite web|url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-090527-2256F-0AC78?OpenDocument|title=Mining and Construction on Metso's website|accessdate=2013 |
Metso's biggest competitors in the mining industry include [[FLSmidth]], [[Outotec]] and [[ThyssenKrupp]], and in the construction industry [[Terex]], [[Atlas Copco]], [[Caterpillar Inc.|Caterpillar]] and [[Sandvik]].<ref name="MiningConstruction">{{cite web|url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-090527-2256F-0AC78?OpenDocument|title=Mining and Construction on Metso's website|accessdate=14 May 2013|publisher=Metso|url-status=dead|archiveurl=https://web.archive.org/web/20130209083934/http://metso.com/corporation/about_eng.nsf/WebWID/WTB-090527-2256F-0AC78?OpenDocument|archivedate=9 February 2013}}</ref> |
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=== Flow control === |
=== Flow control === |
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==Share== |
==Share== |
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Metso's share |
Metso's share was listed on the [[Helsinki Stock Exchange]].<ref name="MetsoShare">{{cite web|url=http://www.metso.com/corporation/ir_eng.nsf/WebWID/WTB-041108-2256F-D9065?OpenDocument&mid=C0C34C1787A9F733C22575AE0044E755|title=Metso share on Metso's website|accessdate=29 October 2012|publisher=Metso|archive-url=https://web.archive.org/web/20130117042338/http://metso.com/corporation/ir_eng.nsf/WebWID/WTB-041108-2256F-D9065?OpenDocument&mid=C0C34C1787A9F733C22575AE0044E755|archive-date=17 January 2013|url-status=dead}}</ref> The share was previously traded also on the [[New York Stock Exchange]], but the listing there ended on 14 September 2007 and now, in the US, it is exchanged on the [[Over-the-counter (finance)|over-the-counter (OTC) market]].<ref name="MetsoShare"/> |
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Starting from 1 July, Metso's share is continued by Neles. |
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===Shareholders=== |
===Shareholders=== |
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Metso's biggest registered shareholders on |
Metso's biggest registered shareholders on 30 September 2016 were:<ref name="MetsoShareholders">{{cite web |url=http://www.metso.com/company/investors/shares/major-shareholders/|title=Top shareholders on Metso's website |accessdate=12 October 2016 |publisher=Metso}}</ref> |
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*[[Solidium|Solidium Oy]] (14.9%) |
*[[Solidium|Solidium Oy]] (14.9%) |
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==References== |
==References== |
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{{ |
{{Reflist}} |
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== External links == |
== External links == |
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*{{ |
*{{Official website|http://www.metso.com/}} |
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{{Portal|Companies}} |
{{Portal|Companies}} |
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{{Authority control}} |
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{{OMX Helsinki 25 companies}} |
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[[Category:Engineering companies of Finland]] |
[[Category:Engineering companies of Finland]] |
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[[Category:Manufacturing companies of Finland]] |
[[Category:Manufacturing companies of Finland]] |
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[[Category: |
[[Category:Manufacturing companies based in Helsinki]] |
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[[Category:Companies listed on the Helsinki Stock Exchange]] |
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[[Category:Mining equipment companies]] |
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[[Category:Manufacturing companies established in 1999]] |
[[Category:Manufacturing companies established in 1999]] |
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[[Category:Manufacturing companies disestablished in 2020]] |
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[[Category:2020 mergers and acquisitions]] |
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[[Category:Finnish brands]] |
[[Category:Finnish brands]] |
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[[Category:Pulp and paper companies of Finland]] |
[[Category:Pulp and paper companies of Finland]] |
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[[Category:1999 establishments in Finland]] |
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[[Category:2020 disestablishments in Finland]] |