Metso reported June 18 that its board of directors has decided to develop the company's minerals and flow control businesses separately.
"All Metso’s businesses and these two segments have attractive growth opportunities. Capitalizing on these opportunities will call for efficient decision-making and allocation of resources," said Pekka Vauramo, president and CEO of Metso. "However, our businesses have significant differences relating to customers, cyclicality, growth drivers, sales channels and product development. This is why we made the decision to develop our minerals and flow control strategies separately from each other. In addition, minerals and flow controls share a limited amount of synergies, the majority of which are administrative, so 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 company's adds its decision won't impact its organizational structure or external reporting.
In addition, the board also appointed Olli Isotalo as president of Metso's valves division. He started in his new on July 15, and will become a member of Metso's executive team. Isotalo has previously served as CEO of Patria Oyj, and held various executive positions at Cargotec Corp. John Quinlivan, current president of the valves business, will continue as senior adviser until the end of 2019, and will support Isotalo during the transition period.