Metso
 |
|
| Public company | |
| Traded as |
Nasdaq Helsinki: MEO1V OTCQX: |
| Industry | Industrial machinery |
| Predecessor | Valmet, Rauma Oy |
| Founded | 1999 |
| Headquarters | Helsinki, Finland |
|
Key people
|
Mikael Lilius (Chairman), Matti Kähkönen (President and CEO) |
| Products | Industrial company serving the mining, construction, recycling, oil and gas, pulp, paper and process industries. |
| Revenue | €2,977 million (2015) |
| €555 million (2015) | |
| Profit | €442 million (2015) |
| Total assets | €3,209 million (end 2015) |
| Total equity | €1,444 million (end 2015) |
|
Number of employees
|
12,000 (end 2015) |
| Website | www.metso.com |
Metso is 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. The company employs 12,000 people in 50 countries. Metso’s shares are listed on the NASDAQ OMX Helsinki, Finland.
Metso was created through the merger of Valmet and Rauma in 1999. In 2013, Metso demerged into two separate companies: Metso Corporation and Valmet Corporation.
Metso was created on July 1, 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.
In 1998 Rauma’s businesses included:
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.
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:
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.
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.
The new Metso Group was divided into three business areas:
The merger of Valmet and Rauma had given direction to the company’s future focus on
This formed Metso’s three main business areas:
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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Wikipedia