Equipment company will integrate the business into its mining and construction segment.
The multi-national equipment company Metso
, based in Finland, has announced that after reviewing options for its recycling businesses the company has decided to re-integrate the business into its mining and construction segment.
Metso had announced, Sept. 1, 2011, it was seeking alternatives for its recycling division, including selling the segment off to an outside party. According to Metso, after reviewing the various choices, the company decided that integrating the recycling business back into Metso’s mining and construction segment was the best possible alternative for creating value for the company.
“We are committed to developing the recycling business as part of our Mining and Construction segment,” Matti Kähkönen, Metso Corp. president and CEO, says. “We believe that by integrating recycling in this way we will add value to the recycling business and for Metso generally in terms of volume growth, cost competitiveness and developing our overall offering. We are a forerunner and global market leader in metal and waste recycling, and our goal is to further strengthen our position here.”
The division, which currently employs about 660 people, will be reintegrated into the Mining and Construction division by Dec. 1, 2012. The recycling division had net sales of €212 million in 2011. The recycling division operates primarily in Germany, the United States and Denmark.