Metso to sell earthmoving business
Company reviews future of its loading and hauling operations in Finland and Sweden
METSO have confirmed that they are reviewing the future of their loading and hauling operations, which are based in Finland and Sweden. The evaluation is part of Metso’s target to align their offering with businesses that have a global scale and financial performance which supports the OEM’s growth ambition.
As part of this process, Metso are planning, as a primary objective, to divest the above-mentioned business to an external party. If a suitable buyer cannot be found, the company will consider discontinuing and winding down its loading and hauling segment in Finland and Sweden. These operations have approximately 110 employees, the majority of whom are in Finland.
‘This type of consideration is never taken lightly; hence this announcement comes after a careful evaluation,’ said Saso Kitanoski, president, consumables business area, Metso. ‘We recognize and highly value the dedication and professionalism of our employees in the loading and hauling business. We believe that the business’s value and future potential can be best realized under new ownership. We will work actively to identify the interested parties. During this process, we will actively take care of our customer commitments.’
Metso will begin consultation processes in Finland and Sweden in accordance with country-specific legislation to address the planned changes and their potential impacts. Any decisions and further steps will be taken only after the local union negotiations have been completed.
Metso’s loading and hauling business has operations in Kokkola and Kalajoki, Finland, as well as in Luleå, Sweden. The division produces, among others, truck bodies, buckets and ground-engaging tools for various applications in both mining and aggregates.
