Metso says it has decided to develop the businesses of the Minerals and Flow Control segments separately, with the latter business area appointing Olli Isotalo as President.
Metso’s Board of Directors said it had defined its view on the company’s portfolio strategy and decided that the businesses under the Minerals and Flow Control segments will be further developed separately from each other, the company said.
”All Metso’s businesses and the two segments that are composed of these, have attractive growth opportunities in the coming years,” Metso’s President and CEO, Pekka Vauramo, said. “Capitalising on these opportunities will call for efficient decision-making and allocation of resources.
“However, our businesses have significant differences relating to, for example, customers, cyclicality, growth drivers, sales channels and product development. This is why we made the decision to develop Minerals and Flow Control strategies separately from each other.
“In addition, Minerals and Flow Control share a limited amount of synergies, the majority of which are administrative, thus the separation will make the preparation and implementation of their respective strategies more efficient.”
The Minerals segment includes equipment and services sold to mining and aggregates customers, as well as the recycling business. The Flow Control segment consists of valves and related services sold to various process industries.
The new President of the Valves business area, Olli Isotalo, will come on board on July 15, Metso said. He will also become a member of the Metso Executive Team.
Isatalo has previously served as CEO of Patria Oyj and has held various executive positions at Cargotec Corp, Metso said.
Vauramo said: “I am very pleased that we can utilise Olli Isotalo’s expertise and experience in preparing and further implementing the strategy of the Valves business.”
Isatalo said: “I am excited to join the Valves business area, which has consistently reported good results and has seen overall strong development over the past years. I eagerly look forward to developing a new strategy and creating new growth opportunities for Valves together with its skilled and motivated personnel.”
John Quinlivan, the current President of the Valves business area, will continue as Senior Adviser until the end of 2019 and will support Olli Isotalo during the transition period, Metso said.