Metso has started a global efficiency program covering its continuing operations following the demerger. The program is designed to improve Metso's cost structure and operational efficiency and is expected to yield annual savings of around EUR 100 million in operational costs by the end of 2015.
Alderon Iron Ore Corp., along with Hebei Iron & Steel Group Co. Ltd. ("HBIS"), have selected Metso grinding mills to deliver efficiencies and meet production goals for the joint-owned Kami Iron Ore Project, located in Newfoundland and Labrador, Canada.
Thanks to a unique combination of supreme quality and affordable pricing, Metso's Indian-manufactured Nordwheeler portable plants have proven a global hit
Valmet, which is demerging from Metso, is assuming a new corporate visual identity. The new visual identity will be fully adopted when the company launches its business operations at the start of next year. Valmet's corporate logo - a green, forward-pointing arrow emblem with the word Valmet in steel grey - conveys a customer-focused and strong forward looking company with sustainability as a success factor.
Metso Corporation's Extraordinary General Meeting (EGM) held in Helsinki today, October 1, 2013, approved the Board of Directors' proposed plan for partial demerger and decided to demerge Metso into two companies. Metso's Pulp, Paper and Power business will be transferred to the new company, Valmet Corporation, and Mining and Construction and Automation business will remain part of Metso.
Metso continues to strengthen its presence in the fast growing Chinese construction market through the completion of the acquisition of Shaorui Heavy Industries Ltd. (Shaorui), announced in November 2012. Located in Shaoguan in Guangdong Province, Shaorui is one of the leading mid-market crushing and screening equipment producers in China.
In parallel with the demerger prospectus published today for Valmet Corporation, which will be incorporated in connection of the partial demerger of Metso Corporation, Metso is also publishing illustrative financial information for Metso's continuing operations for the 2012 financial year and the first half of 2013.
Metso has developed a solution to ease the maintenance of VERTIMILL® Grinding Mills. The innovative VERTIMILL® Liner Lifting Fixture speeds up the changing of the mill liners and makes it safer. Metso has been testing the tool at a customer site since June 2013 and it will be available for existing and future customers in early 2014.
