Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Metso announced on September 1, 2011 that it intended reviewing strategic alternatives for its Recycling business. As part of this process, Metso evaluated both external and internal options. The review concluded that integrating Recycling into the Mining and Construction segment was the best possible alternative for creating value for Metso.
“We are committed to developing the Recycling business as part of our Mining and Construction segment,” says Matti Kähkönen, Metso Corporation’s President and CEO. “We believe that by integrating Recycling in this way we will add value to the Recycling business and for Metso generally in terms of volume growth, cost competitiveness, and developing our overall offering. We are a forerunner and global market leader in metal and waste recycling, and our goal is to further strengthen our position here.”
Recycling will be integrated into Mining and Construction as of December 1, 2012. Restated historical figures for Mining and Construction including the Recycling business will be published later this year.
Recycling had net sales of EUR 212 million in 2011 and the business currently employs approx. 660 people, mainly in Germany, the US and Denmark.
