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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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{{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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| type = [[Public company]] |
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| image = Metso Rautpohja factory.jpg |
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| traded_as = {{OMX|HEX24302|MEO1V}}<br/>{{OTCQX|MXCYY}} |
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| |
| logo = Metso.svg |
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| logo_size = 220px |
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| type = {{Lang|fi|[[Osakeyhtiö#Julkinen osakeyhtiö|Julkinen osakeyhtiö]]}} |
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| traded_as = {{OMX|HEX36695|METSO}} |
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| 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>, |
| 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 = |
| products = Industrial company serving the [[mining]], [[construction]], [[recycling]], [[oil and gas]], [[pulp (paper)|pulp]], [[paper]] and [[process industries]] |
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| revenue = |
| 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 = |
| 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 = €6.642 billion <small>(end 2012)</small><ref name="AR2012" /> |
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| equity = €2.227 billion <small>(end 2012)</small><ref name="AR2012" /> |
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| num_employees = 18,000 <small>(end 2012)</small><ref name="AR2012" /> |
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| homepage = [http://www.metso.com/ www.metso.com] |
| homepage = [http://www.metso.com/ www.metso.com] |
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| intl = yes |
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}} |
}} |
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'''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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'''Metso''' is a supplier of technology, automation and services to customers in the [[mining]], [[construction]], and [[Petroleum_industry|oil and gas]] industries. The company is also known for its advanced automation solutions for pulp, paper and power generation. Metso’s shares are listed on the [[Helsinki Stock Exchange|NASDAQ OMX Helsinki Ltd.]] The company employs 18,000 people in 50 countries.<ref name="MetsoAboutUs">{{cite web |url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-090520-2256F-06886?OpenDocument|title=About us on Metso's website |accessdate=2012-10-29 |publisher=Metso}}</ref> |
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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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== History == |
== History == |
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Metso was created through the merger of Valmet and {{illm|Rauma Oy|fi|Rauma (yritys)|display=y}} in 1999. In 2013, Metso demerged into two separate companies: Metso Corporation and Valmet Corporation. |
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Even though Metso Group is still relatively young, its roots date back to the 1750s in [[Helsinki]], where a small [[shipyard]] in [[Suomenlinna]] operated in the 1900s. In the 1900s the shipyard was transferred as part of [[Valmet]] to the ownership of the State of Finland. [[Tamfelt]] which was acquired in 2009 was also founded in the 1700s.<ref name="History">{{cite web |url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-041026-2256F-0E48B?OpenDocument&mid=2E8312A41D276B1FC2256F40003E464C |title=Our history on Metso's website |accessdate=2012-10-22 |publisher=Metso}}</ref> |
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===1990s=== |
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In 1998 Rauma’s businesses included: |
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* Timberjack forest machines |
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* Sunds Defibrator fiber technology equipment |
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* Nordberg rock crushers |
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* Neles Controls valve-control systems |
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The new company had overlapping operations and to some extent the same customer base too. The purpose of the merger was the will to grow particularly in process technology. For a bigger company it seemed to be easier to survive better in international markets. The company’s scope of business became more diversified than before and there were critics of the merger saying that easier growth would have been achieved if the two companies would have each acquired a competitor in their own core business sector. |
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Matti Sundberg, who was the President and CEO in Valmet and then the CEO of Metso, has later said that he had wanted to implement the merger in different way. He would have liked to emphasize more the strengthening of Valmet’s core business, the paper machine side, as the goal of the merger. Heikki Hakala, the former President and CEO of Rauma became the new President of Metso. The company’s beginning was sluggish and the first year’s financial result was quite modest. The collaboration and exercising of power between Hakala and Sundberg did not work. Hakala, who was slated as Sundberg’s “right hand,” reported to the Supervisory Board chaired by Pertti Voutilainen. |
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The new company had offices in 50 countries and 32,000 employees after a personnel reduction of 2,000 people, and it operated in four sectors: |
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# Paper machines |
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# Forest machines (divested in 2001) |
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# Fiber technology |
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# Rock crushing plants |
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The name for the new company was sought in an employee contest. There were 3 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</ref> |
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===2000s=== |
===2000s=== |
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By 2008, Metso had become Finland's ninth largest company and the number of Metso shareholders had increased from 25,000 to 42,000. Metso strengthened its market position and service capacity in growing markets, particularly in India and China. During 2008, the expansions to the Ahmedabad foundry and the Bawal factory in India were completed. |
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Sundberg and Hakala did not stay that long in Metso’s management. Tor Bergman became the new President and CEO in 2001. In 2001, Metso’s net sales were EUR 4.7 billion, and it had 28,500 employees. |
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Metso also purchased the paper machine technology of Japanese [[Mitsubishi Heavy Industries]]’ (MHI), making Metso the sole owner of Beloit's paper machinery intellectual property globally. |
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One of Bergman’s first efforts in Metso was to highlight its values and ethical principles, putting special emphasis on shareholder value. A socially acceptable company is more efficient and thus brings more value to its owners. According to Bergman’s management philosophy Metso’s operational core was technology leadership along with creating and developing competence clusters. |
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In September 2008, Metso sold 83% of its foundry in Sweden to an investment group assembled by the Primaca investment company. The Metso Foundries [[Karlstad]] unit specialized in casts of wind power components, diesel engine blocks and Yankee cylinders for paper machines. |
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The new Metso Group was divided into three business areas: |
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By 2009, half of Metso's orders received in 2009 came from emerging markets, compared to less than one fifth in 1999. In the same year, Metso entered into a combination agreement with Tamfelt, one of the world's leading suppliers of technical textile. Subsequently, Metso made a public exchange offer for all of Tamfelt's shares. |
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# Fiber and Paper Technology |
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# Automation and Control Technology |
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# Machinery |
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The merger of Valmet and Rauma had given direction to the company’s future focus on |
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* Pulp, paper and energy production technologies |
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* Equipment needed for the construction, mining and recycling industries |
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* Automation and control systems for the process industry |
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This formed Metso’s three main business areas: |
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# Metso Paper |
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# Metso Minerals |
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# Metso Automation |
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The aim of the plethora of business acquisitions made in the 2000s was to expand the product and services portfolio of Metso Paper and Metso Automation. Business operations outside the core businesses were divested. For example, in 2000, Metso acquired the roll cover business and paper machine servicing operations, including paper machine technologies, from the American paper machine manufacturer Beloit (corporation), and the American John Deere aka Deere & Company acquired the forest machine manufacturer Timberjack from Metso. In 2001, Metso acquired the Swedish Svedala Industri AB, a manufacturer of rock and minerals processing equipment. |
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In 2002, Metso announced that it would not achieve its profit targets for two years, and a loss in excess of EUR 300 million was recorded for July–September. The reason for difficulties was Svedala. In 2003, a loss of over EUR 200 million was recorded and in September 2003, President and CEO Bergman was forced to resign because of the company’s poor results. Jorma Eloranta was selected as his successor and he started in March 2004. |
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Eloranta started by distancing the goals and the reality from one another within the Metso organization, where the implementation of the plans and the strategy had begun. Managers were given clearly defined goals, responsibilities and timetables; the company’s structure was strongly streamlined. 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 (2004-2008). By 2008, Metso had grown to become Finland’s ninth largest company, surpassing other engineering companies like Kone, Wärtsilä and Cargotec. |
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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. |
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By 2008, Metso had become Finland’s ninth largest company and the number of Metso shareholders had increased from 25,000 to 42,000. Metso strengthened its market position and service capacity in growing markets, particularly in India and China. During 2008, the expansions to the Ahmedabad foundry and the Bawal factory in India were completed. |
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Metso also purchased the paper machine technology of Japanese [[Mitsubishi_Heavy_Industries|Mitsubishi Heavy Industries’]] (MHI), making Metso the sole owner of Beloit’s paper machinery intellectual property globally. |
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In September 2008, Metso sold 83% of its foundry in Sweden to an investment group assembled by the Primaca investment company. The Metso Foundries [[Karlstadt]] unit specialized in casts of wind power components, diesel engine blocks and Yankee cylinders for paper machines.[27] |
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By 2009, half of Metso’s orders received in 2009 came from emerging markets, compared to less than one fifth in 1999. In the same year, Metso entered into a combination agreement with Tamfelt, one of the world’s leading suppliers of technical textile. Subsequently, Metso made a public exchange offer for all of Tamfelt’s shares.<ref>{{cite web |url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-041026-2256F-9C024?OpenDocument</ref> |
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In the first half of 2009, Metso laid off over 700 employees and shut down several small units in e.g. [[Tampere]], [[Turku]], [[Oulu]] and [[Hollola]]. The operations of the shut-down units were integrated with the [[Järvenpää]] and [[Jyväskylä]] units. Metso’s strategy for the 2000s was to manufacture wide, high-speed paper machines and discontinue its traditional paper machine concepts. |
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===2010s=== |
===2010s=== |
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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. |
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Matti Kähkönen was appointed the new President and CEO of Metso Corporation on March 1, 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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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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Metso opened new plant and office facility for valve, positioned and actuator manufacturing, R&D, customer training and local services in Vantaa, Finland. The lay of the new factory is based on Lean manufacturing model. The new facility replaced the operation premises in Roihupelto industry area in Helsinki where the company was producing valves for nearly 50 years. |
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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> |
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In August, Metso acquired the mining services business of Copperstate Industrial Services, based in Arizona, USA. The acquired business aimed to strengthen Metso’s position as a leading service and technology provider for the mining industry in North America and Mexico. |
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===2013 company demerge=== |
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In August 2011, Metso entered into a joint venture agreement with the Chinese SAC, Guodian Nanjing Automation to support Metso’s strategy in the power automation control systems market in China. In December 2011, Metso sold its workshop in Valkeakoski, Finland, with all related equipment and screen basket manufacturing. |
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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> |
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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. |
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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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In November 2012, Metso agreed to form a joint venture with China’s LiuGong Group to develop the track-mounted crushing business in China. Also in November, Metso acquired 75 percent of Shaorui Heavy Industries, one of China’s leading mid-market crushing and screening equipment producers. |
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=== 2020 partial demerger and combination of Metso Minerals and Outotec === |
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Metso also entered new markets with the acquisition of the South Korean valve manufacturer Valstone Control Inc. Additionally, Metso 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. |
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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 December 2012 Metso closed the acquisition of U.S. software company ExperTune Inc. ExperTune’s products are widely used as software tools to analyze and monitor the performance of industrial processes and to identify the associated maintenance and improvement opportunities. |
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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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In August 2013, Metso closed the acquisition of Chinese manganese steel foundry JX. The acquisition improved Metso's ability to supply wear parts to the mining and construction industry in China.<ref>{{cite web |url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-041026-2256F-9C024?OpenDocument</ref> |
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===2013 company demerge=== |
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On October 1, 2013, the Extraordinary General Meeting approved the demerger of Metso into two companies. 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%. This arrangement ceased Valmet Automotive as a Metso subsidiary. <ref>{{cite web |url= http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-041026-2256F-9C024?OpenDocument#.Uu5XjvbmVhA}</ref> |
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==Organization== |
==Organization== |
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Metso is a technology and services supplier. Today the company’s operations are divided into two businesses, i.e. reporting segments.<ref name="businessesglance">{{cite web |url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-090527-2256F-5524E?OpenDocument&mid=9EE9DF229B5AD631C22575BD0054EAF4|title=Our businesses at a glance on Metso's website |accessdate=2012-10-22 |publisher=Metso}}</ref> |
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#Mining and Construction, consisting of the Minerals Processing Solutions, Crushing and Screening Equipment, and Services business lines |
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#Metso Automation, consisting of the Process Automation Systems, Flow Control, and Services business lines |
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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 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 (since completion of the demerger on December 31, 2013):<ref name="BoardDirectors">{{cite web |url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-041101-2256F-DB377?OpenDocument&mid=F514F451CF334E2AC22575AE004A1C4A|title=Board of Directors on Metso's website |accessdate=2013-05-14 |publisher=Metso}}</ref> |
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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= |
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*Jukka Viinanen (Chairman since 2009, Board member since 2008) |
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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=25 April 2019 |publisher=Metso}}</ref> |
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*Mikael von Frenckell (Vice Chairman since 2012, Board member since 2010) |
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*[[Mikael Lilius]] (Chairman since 31 December 2013. Board member since 2013.) |
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*Christer Gardell (2006-) |
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*[[Christer Gardell]] (Vice Chairman since 31 December 2013. Board member since 2006.) |
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*Ozey K. Horton, Jr. (2011-) |
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*Peter Carlsson (2016–) |
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*Erkki Pehu-Lehtonen (2010-) |
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*Lars Josefsson (2013–) |
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*Pia Rudengren (2009-) |
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* |
*Nina Kopola (2013–) |
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*Antti Mäkinen (2018–) |
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*Mikael Lilius (2013-) |
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*Kari Stadigh |
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*Eija Lahti-Jäntti (Personnel representative) |
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*Arja Talma (2016–) |
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*Raimo Brand |
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====Metso Executive Team==== |
====Metso Executive Team==== |
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The Executive Team includes the following members.<ref name="Metsomanagement"/> |
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The Executive Team includes the following members (since completion of the demerger on December 31, 2013):<ref name="Executiveteam">{{cite web |url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-041101-2256F-85EF8?OpenDocument&mid=F83AEF344956E802C2256F4000497539|title=Executive team on Metso's website |accessdate=2012-05-14 |publisher=Metso}}</ref> |
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* |
*Pekka Vauramo, President and CEO |
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*Eeva Sipilä, CFO and Deputy to CEO |
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* Harri Nikunen, CFO |
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* |
*Stephan W Kirsch, President, Mining Equipment business area |
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*Markku Simula, President, Aggregates Equipment business area |
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* Perttu Louhiluoto. President, Automation |
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*Olli Isotalo, President, Valves |
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* Simo Sääskilahti. Senior Vice President, Strategy and Business Development |
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*Sami Takaluoma, President, Minerals Consumables business area |
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* Merja Kamppari, Senior Vice President, Human Resources |
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*Uffe Hansen, President, Recycling business area |
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*Giuseppe Campanelli, President, Minerals Services business area |
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*Kalle Sipilä, President, Pumps business area |
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*Jani Puroranta, Chief Digital Officer |
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=== |
=== Minerals processing === |
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Metso Mining and Construction supplies technology, processes, machinery and services for aggregates production, construction, mining and minerals processing. The business lines are Minerals Processing Solutions, Crushing and Screening Equipment, and Services. The biggest of the business lines in 2012 was Services (net sales EUR 1,692 million). Net sales of Minerals Processing Solutions were EUR 1,317 million, and the Crushing and Screening Equipment business line EUR 477 million the same year.<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=2013-05-14 |publisher=Metso}}</ref> The business area includes, among others, the Swedish Svedala Industri AB units acquired in 2001 and the former Oy [[Lokomo]] Ab factories in [[Tampere]]. |
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====Products and services==== |
====Products and services==== |
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For minerals processing in the mining, aggregates and recycling industries, Metso's offering includes crushers, screens, mining solutions, grinding mills and media, conveyors, solutions for bulk materials handling as well as process, pyro processing and recycling equipment. |
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In addition to spare parts and expert and maintenance services, the business area offers its customers <ref name="MiningConstruction"/> |
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*Full-scope solutions for the mining industry |
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*[[Grinding mill]]s and grinding solutions |
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*[[Crusher]]s, crushing solutions, process equipment, such as [[pump]]s, [[Filtration|filter]]s, [[thickener]]s, separation equipment |
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*Mobile crushers and screens |
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*Bulk materials handling solutions and conveyors |
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====Customers==== |
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The business area’s customers operate in the mining and the construction industry (for example, [[quarries]] and contractors).<ref name="MiningConstruction"/> |
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====Competitors==== |
====Competitors==== |
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Metso |
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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[[File:Metso Automation Honkatalo.jpg|thumb|Metso premises in Hakkila, Vantaa, Finland.]] |
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=== Metso Automation === |
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===Customers=== |
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[[Image:Metso Rautpohja factory.jpg|thumb|right|300px| Metso Rautpohja factory in [[Jyväskylä]], Finland]] |
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Metso's customers operate in mining, aggregates, recycling and process industries. |
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==Share== |
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Metso’s Automation segment supplies process industry flow control solutions, automation and information management systems and applications, and services. The business sector was formed in 1999 through the merger of the process automation systems manufacturer Valmet Automation and Neles Controls, a manufacturer of valves and flow control systems. |
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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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It consists of three businesses: Process Automation Systems, Flow Control and Services. In 2012, the biggest of the businesseswas Flow Control (net sales of EUR 449 million). In the same year, the Services business net sales were EUR 217 million, and in Process Automation Systems business EUR 194 million.<ref name="Automation">{{cite web |url=http://www.metso.com/corporation/about_eng.nsf/WebWID/WTB-090527-2256F-91612?OpenDocument|title=Automation on Metso's website |accessdate=2013-05-14 |publisher=Metso}}</ref> |
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====Products and services==== |
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In addition to expert and life-cycle services, the business area offers its customers <ref name="Automation"/> |
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*Process automation and information management application networks and systems under Metso DNA brand |
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*Process measurement systems and analyzers |
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*Control, on-off and emergency shutdown (ESD) valves under Neles®, Jamesbury® and Mapag® brands |
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*Intelligent positioners and condition monitoring |
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====Customers==== |
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The business area’s customers operate in the power generation, oil, gas, pulp, paper, mining and construction industries.<ref name="Automation"/> |
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====Competitors==== |
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Metso’s competitors in automation systems include [[ABB Group]] and [[Honeywell]], and in valves [[Emerson Process Management]], [[General Electric]] and [[Flowserve]]. Metso Automation is a market leader in valves and automation solutions for the pulp and paper industry.<ref name="Automation"/> |
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==== Metso Recycling ==== |
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Metso Recycling business offers metal and waste recycling equipment and services globally. On September 1, 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 October 25, 2012, Metso announced that Metso Recycling will be integrated into Mining and Construction as of December 1, 2012.<ref name="BoardDirectors">{{cite web |url=http://www.metso.com/recycling/mm_recy.nsf/WebWID/WTB-131112-22575-29FFF?OpenDocument#.Uu5cdfbmVhA}}</ref> |
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==Share== |
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Metso’s share is 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=2012-10-29 |publisher=Metso}}</ref> The share was previously traded also on the [[New York Stock Exchange]], but the listing there ended on September 14, 2007 and now, in US, it is exchanged on the [[Over-the-counter (finance)|over-the-counter (OTC) market]].<ref name="MetsoShare"/> |
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===Shareholders=== |
===Shareholders=== |
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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]] 11.1 |
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*Ilmarinen Mutual Pension Insurance Company 3.0% |
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*Varma Mutual Pension Insurance Company 1.9% |
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*Nordea Funds 1.2% |
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*The State Pension Fund 1.1% |
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*Nordea Nordenfonden 1.0% |
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*OP Funds 1.0% |
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*Keva 1.0% |
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*Mandatum Life Insurance Company Limited 1.0% |
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*Svenska letteratursällskapet I Finalnd r.f. 0.8% |
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*[[Solidium|Solidium Oy]] (14.9%) |
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==Recognitions and awards== |
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*Keskinäinen työeläkevakuutusyhtiö Varma(3.4%) |
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In 2012, Metso employee Mika Viljanmaa, received the SEK 2 million Marcus Wallenberg Prize, which is often dubbed “the Nobel Prize of the forest industry”.<ref name="MarcusWP">{{cite web |url=http://mwp.org/?p=622|title=Resource saving metal belt calendering giving better paper surface awarded the 29th Marcus Wallenberg Prize on The Marcus Wallenberg Foundation's website |accessdate=2012-10-29 |publisher=The Marcus Wallenberg Foundation}}</ref> Viljanmaa is a prolific innovator who has a total of 120 protected inventions, 57 of them related to metal belt technology. He received the prize for his groundbreaking development of metal belt calendering used in paper and board making.<ref name="MarcusWP"/> Metal belt calendering technology improves the surface properties of paper, increases production efficiency, lowers the use of fiber raw materials, and enables pressing and drying applications.<ref name="MarcusWP"/> Compared to conventional [[calender]]ing, metal belt calendering produces a smoother finish on paper and board.<ref name="MarcusWP"/> The initial research and tests with the technology were conducted in 1996–2000, and the first application was deployed in 2006. Today the global production capacity based on the technology is 2.2 million tons per year. |
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*Keskinäinen Eläkevakuutusyhtiö Ilmarinen (1.5%) |
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*Odin -rahastot (1.0%) |
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*Valtion Eläkerahasto (1.0%) |
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*Keva (1.0%) |
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*Mandatum Henkivakuutusosakeyhtiö (1.0%) |
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*Svenska litteratursällskapet i Finland r.f. (0.8%) |
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*Keskinäinen Työeläkevakuutusyhtiö Elo (0.6%) |
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*Schweizerische Nationalbank (0.5%) |
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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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[[Category:Companies listed on the Pink Sheets]] |
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[[Category:Engineering companies of Finland]] |
[[Category:Engineering companies of Finland]] |
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[[Category:Manufacturing companies of Finland]] |
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[[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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Latest revision as of 16:37, 6 May 2024
Native name | Metso Oyj |
---|---|
Company type | Julkinen osakeyhtiö |
Nasdaq Helsinki: METSO | |
Industry | Industrial machinery |
Predecessor | Valmet, Rauma Oy |
Founded | 1999 |
Defunct | 1 July 2020 |
Headquarters | , |
Key people | Mikael Lilius (Chairman), Pekka Vauramo (President and CEO) |
Products | Industrial company serving the mining, construction, recycling, oil and gas, pulp, paper and process industries |
Revenue | €3.6 billion (2019)[1] |
€418 million (2019)[1] | |
Number of employees | 15,000 (end 2019) |
Website | www.metso.com |
Metso Corporation[2] (natively Metso Oyj) was a Finnish industrial machinery company focusing on providing technology and services for mining, aggregates, and oil and gas, recycling, pulp and paper and other process industries.
On 30 June 2020, Metso's partial demerger and combination of Metso Minerals business unit and Outotec took place.[3][4] Two new companies started operations on 1 July 2020: Neles and Metso Outotec.[5]
History
Metso was created through the merger of Valmet and Rauma Oy in 1999. In 2013, Metso demerged into two separate companies: Metso Corporation and Valmet Corporation.
2000s
By 2008, Metso had become Finland's ninth largest company and the number of Metso shareholders had increased from 25,000 to 42,000. Metso strengthened its market position and service capacity in growing markets, particularly in India and China. During 2008, the expansions to the Ahmedabad foundry and the Bawal factory in India were completed.
Metso also purchased the paper machine technology of Japanese Mitsubishi Heavy Industries’ (MHI), making Metso the sole owner of Beloit's paper machinery intellectual property globally.
In September 2008, Metso sold 83% of its foundry in Sweden to an investment group assembled by the Primaca investment company. The Metso Foundries Karlstad unit specialized in casts of wind power components, diesel engine blocks and Yankee cylinders for paper machines.
By 2009, half of Metso's orders received in 2009 came from emerging markets, compared to less than one fifth in 1999. In the same year, Metso entered into a combination agreement with Tamfelt, one of the world's leading suppliers of technical textile. Subsequently, Metso made a public exchange offer for all of Tamfelt's shares.
2010s
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.
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.
In August 2013, Metso closed the acquisition of Chinese manganese steel foundry JX.[6]
2013 company demerge
On 1 October 2013, the Extraordinary General Meeting approved the demerger of Metso into two companies.[7] 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.
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.[8]
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.[9]
2020 partial demerger and combination of Metso Minerals and Outotec
All regulatory approvals were received by 18 June 2020[10] and partial demerger was registered on 30 June 2020.[3] Metso Outotec and Neles started operations on 1 July 2020.
2020s
In July 2023, it was announced Metso had acquired the Perth-headquartered bulk material handling company Brouwer Engineering.[11]
Organization
Corporate governance
Metso's President and CEO as well as Chairman of the Executive Team is Pekka Vauramo as of 1 November 2018.[12]
Metso’s Board of Directors
Metso's Board includes the following members.[13]
- Mikael Lilius (Chairman since 31 December 2013. Board member since 2013.)
- Christer Gardell (Vice Chairman since 31 December 2013. Board member since 2006.)
- Peter Carlsson (2016–)
- Lars Josefsson (2013–)
- Nina Kopola (2013–)
- Antti Mäkinen (2018–)
- Kari Stadigh
- Arja Talma (2016–)
- Raimo Brand
Metso Executive Team
The Executive Team includes the following members.[12]
- Pekka Vauramo, President and CEO
- Eeva Sipilä, CFO and Deputy to CEO
- Stephan W Kirsch, President, Mining Equipment business area
- Markku Simula, President, Aggregates Equipment business area
- Olli Isotalo, President, Valves
- Sami Takaluoma, President, Minerals Consumables business area
- Uffe Hansen, President, Recycling business area
- Giuseppe Campanelli, President, Minerals Services business area
- Kalle Sipilä, President, Pumps business area
- Jani Puroranta, Chief Digital Officer
Minerals processing
Products and services
For minerals processing in the mining, aggregates and recycling industries, Metso's offering includes crushers, screens, mining solutions, grinding mills and media, conveyors, solutions for bulk materials handling as well as process, pyro processing and recycling equipment.
Competitors
Metso's biggest competitors in the mining industry include FLSmidth, Outotec and ThyssenKrupp, and in the construction industry Terex, Atlas Copco, Caterpillar and Sandvik.[14]
Customers
Metso's customers operate in mining, aggregates, recycling and process industries.
Metso's share was listed on the Helsinki Stock Exchange.[15] 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 (OTC) market.[15]
Starting from 1 July, Metso's share is continued by Neles.
Metso's biggest registered shareholders on 30 September 2016 were:[16]
- Solidium Oy (14.9%)
- Keskinäinen työeläkevakuutusyhtiö Varma(3.4%)
- Keskinäinen Eläkevakuutusyhtiö Ilmarinen (1.5%)
- Odin -rahastot (1.0%)
- Valtion Eläkerahasto (1.0%)
- Keva (1.0%)
- Mandatum Henkivakuutusosakeyhtiö (1.0%)
- Svenska litteratursällskapet i Finland r.f. (0.8%)
- Keskinäinen Työeläkevakuutusyhtiö Elo (0.6%)
- Schweizerische Nationalbank (0.5%)
References
- ^ a b "Financial Statement 2019" (PDF). Metso. Retrieved 6 February 2020.
- ^ "Metso Corporation and Outotec Oyj will complete the combination of Outotec and Metso's Minerals business". Valmet. 2020. Retrieved 16 October 2023.
- ^ a b "Metso Corporation's partial demerger has been registered – Metso Corporation and Outotec Oyj have completed the combination of Metso's Minerals business and Outotec". Metso Outotec. Retrieved 8 July 2020.
- ^ "Metso Corporation's partial demerger has been registered". Neles.com. Retrieved 8 July 2020.
- ^ "Valmet completes 14.9% ownership acquisition of Neles". www.valmet.com. Retrieved 20 July 2022.
- ^ "Metso is acquiring a manganese steel foundry in China". Metso. Retrieved 21 September 2016.
- ^ "Metso's demerger approved by the Extraordinary General Meeting". metso.com/news. Metso. Retrieved 22 September 2016.
- ^ "Metso Corporation's holding in Valmet Automotive to be reduced as part of internal asset restructuring". Metso.com news. Metso. Retrieved 22 September 2016.
- ^ "Divestment of Metso's Process Automation Systems business to Valmet completed". Metso.com news. Metso. Retrieved 22 September 2016.
- ^ "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". Metso Outotec. Retrieved 8 July 2020.
- ^ "Metso acquire Brouwer Engineering". agg-net.com. 24 July 2023. Retrieved 9 August 2023.
- ^ a b "Metso's management on Metso's website". Metso. Archived from the original on 7 July 2016. Retrieved 10 October 2017.
- ^ "Decisions taken by Metso's Annual General Meeting 2019 and Metso's Board of Directors". Metso. Retrieved 25 April 2019.
- ^ "Mining and Construction on Metso's website". Metso. Archived from the original on 9 February 2013. Retrieved 14 May 2013.