{"data":{"news":{"items":[{"title":"Metso Outotec’s name changes to Metso","date":"2023-05-08 07:16:55","id":4605,"author":"","blurb":"","blurb_image_uid":"https://dxfpracgmlczp.cloudfront.net/2023/05/1683383056291_8098887df4f34368_org-web.jpg","blurb_expanded_image_uid":null,"article":"\n\t\n\n\n

Metso Outotec’s annual general meeting (AGM) has approved the board of directors’ proposal to change the company name to Metso Corporation.

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“After the successful integration of Metso and Outotec, we will focus on growing a strong unified Metso company and brand,” said president and CEO of Metso, Pekka Vauramo.

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“We have combined two valuable companies into one strong Metso. Our focus is clear: we continue enabling sustainable modern life and transforming the industry with a clear strategy and strong culture, supported by a name that is short yet established and well recognised among all our stakeholders. Services are an extremely important part of our business, requiring a strong name.”

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According to Metso, Outotec continues as a product brand and carries significant value as the name of some key technologies and products.

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The change of the parent company name Metso Corporation is effective 4 May 2023, but globally the change will be implemented in a phased manner. The visual identity of the company remains unchanged, but the new name is reflected in the company logo.

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Metso Outotec’s executive team has been renamed Metso leadership team (MLT).

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Headquartered in Helsinki, Finland, Metso is a global supplier of sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries. The company employs over 16,000 people in close to 50 countries.

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Metso Outotec and Malaysia-based company Power Ram Sdn Bhd have signed a distribution contract which covers Metso Outotec’s aggregate crushing and screening equipment and related parts and support.

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As of June 2021, Power Ram will sell and rent Metso Outotec’s mobile and stationary crushers and screens, provide spare parts, crusher wear parts and screening media as well as technical support and maintenance services for aggregate producers and contractors in Malaysia and Singapore.

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“With the new partnership we will have a stronger local presence, which allows us to service our existing customers and support them through the continued lifecycle of their equipment more efficiently,” said Shaun Fanning, vice president of aggregates at Metso Outotec in Asia Pacific.

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“Availability of equipment and fast and easy access to service is very important for aggregate producers and contractors. We are very pleased to be able to combine our premium brand offering with Power Ram’s local expertise for the benefit of the customers.”
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\n“Power Ram’s business philosophy has always been to enhance our performance by utilising resources, know-how and experience,” said Ky Kok, director at Power Ram. “Partnership with Metso Outotec suits very well our philosophy. Our aim is to focus and support the parts and service support for the existing customers, explore new opportunities and maintain Metso Outotec presence in Malaysia and Singapore.”

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Power Ram supplies construction equipment and aftermarket services to construction customers including quarries and mines, as well as undertaking earth and rock excavation projects. The company employees 45 people, with its head office in Selangor Darul Ehsan and aftermarket division including warehouse in Kuala Lumpur.

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New marketing approach

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Metso Outotec has also announced a new marketing approach aimed at closer engagement with its customers and stakeholders. “The Covid-19 pandemic has changed the way we all interact with each other, and we recognise that our customers are looking for safer and more diverse ways to engage with us.”

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The company said it will be moving towards a more market-specific and multi-channel approach to its customer engagement strategy. This strategy will focus on: having local representation either through its sales organisation or distribution partners; an increased focus on regional Metso Outotec branded events, in partnership with its distributors where applicable; and increasing the ways that customers can engage with the company digitally, whether it is via websites, through webinars, or via online tools and events that help customers explore problems and solutions.

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As a result of the new strategy, Metso Outotec has decided not to attend both MINExpo 2021 and Bauma Munich 2022.

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“Despite our withdrawal from exhibiting at these two tradeshows, we will ensure that some commercial representation will be present, focused on targeted meetings and relationship-building. These will take place in the form of physical, digital, and hybrid events. Where we have physical events, we aim to minimise as much as possible travel and ensure a safe environment where we avoid having large crowds of people,” stated Metso Outotec.

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“We have not ruled out future participation at these or other large tradeshows, instead, we will allow our customers’ behaviours and preferences to drive our ongoing marketing strategy development. Currently, it is still planned for Metso Outotec’s McCloskey brand to be featured at Bauma.”

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The company stressed that physical interaction and face-to-face engagement will remain a key component of the Metso Outotec strategy. The goal is to augment that with the increasing possibilities that new technologies bring, allowing for greater efficiency, sustainability, and personalisation.

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“Our goal is to be closer to our customers and to provide them with the tailored content that they need in the formats that will best suit them,” said Lilli Nykänen, VP of Marketing at Metso Outotec. “A flexible and adaptive approach is being taken for this across Metso Outotec products and services, as well as across the industries that we serve.

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“Over the past year, the company has explored many digital-first marketing initiatives including the launch of the Liveroom virtual showroom and the Packed with Performance webinar series. These have been met with great enthusiasm from our diverse customer base and are things we will continue to build on moving forward.”

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Metso Minerals and Outotec Oyj have completed their merger, forming a new company named Metso Outotec – which began its operations on 1 July 2020. It is headquartered in Finland, employing over 15,000 professionals in more than 50 countries and its illustrative combined sales for 2019 were about €4.2 billion.

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Metso Outotec provides crushing and screening equipment for the production of aggregates as well as equipment and solutions for minerals processing, metals refining, chemical processing, and metal and waste recycling. The company’s service capabilities and global network are complemented with a comprehensive range of spare and wear parts, refurbishments and professional services.

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In its press release, Metso Outotec pointed out that the company brings together a long history of technological leadership, customer focus and excellence in services, leveraging the strengths of both companies. Such a combination results in many benefits for the customers, including full offering that ranges from ore body to metal; extensive global services network; and significant investment in R&D, allowing the company to create sustainable technologies.

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According to Metso Outotec, the growing interest towards the environment and the impacts of climate change, urbanisation, decreasing ore grades and electrification are forcing traditional industries like aggregates, minerals processing and metals refining to redefine their license to operate. The company expects to drive these industries towards a responsible use of the world’s natural resources.

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”It is our core expertise to help our customers transform the industry. We offer sustainable technologies and services that reduce the consumption of energy and water by increasing process efficiency, recycling and reprocessing of tailings and waste. Our extensive offering and expertise help our customers improve their business and lower their risks. We are their partner for positive change,” said Pekka Vauramo, president and CEO of Metso Outotec.

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Metso has signed an agreement to acquire McCloskey International, a Canadian mobile crushing and screening equipment manufacturer, to expand Metso’s offering in the aggregates industry globally and to strengthen the customer reach especially to general contractor customers.

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The mobile aggregate equipment market is forecast to grow by 4-6% annually during 2019-2023, driven by the underlying road construction spend. With this acquisition, Metso will be able to better take part in the attractive growth of mobile products within the aggregates industry.

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“This acquisition is in line with Metso’s profitable growth strategy. It strengthens our aggregates business in key growth areas. The different cycles of aggregates balance our previously more mining focused Minerals portfolio well,” said Pekka Vauramo, Metso’s president and CEO.

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“Customers in aggregates and construction have varying business needs. This acquisition supports our expansion plans to approach customers through multiple complementary channels and offerings to meet their diverse needs,” added Markku Simula, president of the Aggregates Equipment business area at Metso.

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“Going forward, Metso plans to continue developing the McCloskey brands and distribution channels independent of the Metso channel. Synergies are apart from sourcing mainly revenue related, resulting from the wider offering available to both channels as well as additional crusher equipment, service and consumable sales,” continued Mr Simula.

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McCloskey has approximately 900 employees in Canada, the US and Northern Ireland. In the 12-month period ending 30 September 2018, the company had pro forma sales of C$464 million (€308 million) and a pro forma EBITDA margin of 10.3%. Its strong track record of profitable growth over the past several years is expected to continue in 2019. The company’s sales in the fiscal year ending 30 September 2019 are projected to exceed C$500 million (€330 million).

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“We are proud of the growth achieved in a competitive market. I know that joining Metso is the right move for all our customers, employees, dealers and business partners. The combination of our unique focus on products and people and Metso’s global resources will help create even better solutions for our customers,” said Paschal McCloskey, founder, president and CEO of McCloskey.

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Metso said McCloskey will be reported in its Minerals segment. The acquisition is expected to be finalised during the fourth quarter of 2019.

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