Metso Outotec to reorganise Metals business

Metso Outotec says it is reorganising its Metals business as part of an earlier announced turnaround program.

The target is to create an operational model for Metals capital and services that “suits the scale and nature of the business today” and meets the specific demands of the Metals refining segment customer base, it said.

Jari Ålgars, President, Metals business area at Metso Outotec, said: “The restructuring and turnaround program aims to improve Metals’ competitiveness and financial performance as well as ensure more granular management of the various businesses and resources. The restructuring will enable us to size and scope our offering and resources in a more efficient way.”

Around 1,100 employees working with the Metals capital and service business around the world are within the scope of the restructuring program. According to the plans, restructuring is estimated to lead to a maximum of 160 redundancies in the Metals operations globally, corresponding to targeted savings of €15 million ($18 million). These figures include personnel working in Finland, where the number of redundancies is estimated to be 60 employees at most.

The impact of the restructuring on different employee groups will be determined during the March quarter of 2021, the company said, adding that actions will be taken in compliance with local employment legislation in the countries in question.