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Finland: Metso merges with Outotec

By  |  July 4, 2019
Finnish engineering group Metso is merging its main minerals technology business with smaller rival Outotec, Metso said on Thursday, sending shares in both companies higher.

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    The new company, to be called Metso Outotec, will be one of the leading technology suppliers to minerals processing companies globally, Metso said, with combined sales of 3.9 billion euros ($4.4 billion) in 2018.

    “The strategic plan for the merger is straightforward in our view, creating a larger scale minerals and aggregates business with cost opportunities to improve profitability,” JP Morgan analysts said in a note to clients.

    Full Content: Reuters

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