Shareholders of Metso Outotec have approved the Board of Directors’ proposal to change the company name to Metso Corporation, bringing an end to a name that was instated in mid-2020 when the two firms – Metso and Outotec – merged.
The change of the parent company name Metso Corporation is effective starting May 4, 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, Metso said.
Outotec continues as a product brand and carries significant value as the name of some key technologies and products, it clarified.
The news follows voting at the company’s Annual General Meeting yesterday.
“After the successful integration of Metso and Outotec, we will focus on growing a strong unified Metso company and brand,” President and CEO of Metso, Pekka Vauramo, said. “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.”
Metso Outotec’s Executive Team has been renamed Metso Leadership Team (MLT).
Metso merged with Outotec on June 30, 2020, bringing together circa-15,000 employees, some 5,000 service representatives and around €4.2 billion ($4.7 billion) of sales (in 2019).