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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.

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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