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metso logo new oneDue to the current coronavirus outbreak, the Finnish government has announced its intention to issue a presidential decree to commission the Emergency Powers Act (Valmiuslaki 1552/2011, as amended) on Tuesday, March 17, 2020, adopting multiple restrictive measures, including the prohibition of public gatherings of over 10 people. Due to this, as Metso takes the threat of the coronavirus seriously, Metso’s Board of Directors has decided to postpone the Annual General Meeting, which was scheduled to be held on Friday, March 20, 2020. The Annual General Meeting will be held as soon as permitted by future developments concerning the coronavirus outbreak. A notice to the Annual General Meeting will be issued at a later stage.

METSO CORPORATION

Published in Financial News
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Customers in various process industries continued to trust in the valve services of Metso’s valve business, future Neles Corporation, in 2019 to secure plant availability, reliability, safety and environmental compliance. Last year Metso’s flow control experts took part in around 250 major shutdowns globally.

Services that include specialized maintenance planning, on-time start-up and effective execution will ensure the safety and availability of the plant until the next planned shutdown. Unless you are prepared for the unexpected with the right partner and proper planning, an unexpected stop can happen affecting materials, schedules and resources.

metso”It is very important that customers can rely on our know-how during a tightly scheduled shutdown project. Having us as a reliability partner for shutdown planning secures that the right valves are maintained and that the correct materials and resources are available when needed,” says Sami Nousiainen, VP of Valves Services at Metso.

Metso delivers tag-specific service reports, test certificates and recommendations for future maintenance, upgrades and replacements to improve the plant’s process reliability and safety.

“We currently use diagnostic data, performance data and historical maintenance data to determine which valves need be maintained during shutdown. In the future, we want to be able to utilize this data even more effectively,” Nousiainen adds.

Metso has a broad valve maintenance experience and in-depth expertise in shutdowns around the world which brings customers significant benefits. Metso offers valve services through its 40 service locations around the world.

About future Neles Corporation

The future Neles Corporation is a well-known flow control solutions and services provider to the oil and gas refining, pulp, paper and bioproducts industry, chemicals and other process industries. Neles employs about 2,900 people and it has operations in more than 40 countries. Neles’ unaudited carve-out sales for full-year 2019 were EUR 660 million and its carve-out operating profit was EUR 93 million.

Neles Corporation is planned to be created in a partial demerger of Metso, in which Metso’s Flow Control business would become the independent Neles Corporation and it would continue Metso’s listing on Nasdaq Helsinki. Simultaneously, Metso’s Minerals Business would combine with Outotec to create Metso Outotec.

The closing of the transaction is currently expected to take place on June 30, 2020, subject to regulatory approvals. The Extraordinary General Meetings of both Metso and Outotec approved the transaction on October 29, 2019.

Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 3.6 billion in 2019. Metso employs over 15,000 people in more than 50 countries. metso.com, twitter.com/metsogroup

Published in European News
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Metso’s valve business, future Neles Corporation, will establish two new service centers in Lisbon, Portugal, and in the Mulhouse area, France, to increase its valves’ service availability and presence close to customers. Service centers offer valve repair services as well as predictive maintenance services, e.g. digitalized process diagnostic services and shutdown planning, to help customers to increase their plant reliability.

“We are constantly developing our operations to fulfill our customers’ needs. We have a comprehensive service portfolio, ranging from genuine quality parts to complex shutdown solutions. We want to be a reliability partner by helping our customers to reduce the risks of valve failure and expensive unplanned shutdowns,” says Timo Hänninen, Vice President of Valve Services at Metso. 

The service center in Portugal was opened during the third quarter of 2019. The opening of the service center in France is planned for the second quarter of 2020.

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Future Neles currently has 40 service sites in more than 20 countries. “Our valve services experts are involved in more than 150 large-size shutdowns globally every year, and today we have more than 100 valve service agreements with our customers,” Hänninen says.

About future Neles Corporation

The future Neles Corporation is a well-known flow control solutions and services provider to the oil and gas refining, the pulp, paper and bioproducts industry, the chemicals and other process industries. Neles employs 2,900 people and it has operations in more than 40 countries. Neles’ unaudited carve-out sales for full-year 2018 were EUR 593 million (January-September 2019: EUR 493 million) and carve-out operating profit was EUR 83 million (January-September 2019: EUR 75 million.)

Neles Corporation is planned to be created in a partial demerger of Metso, in which Metso’s Flow Control business would become the independent Neles Corporation and it would continue Metso’s listing on Nasdaq Helsinki. Simultaneously, Metso’s Minerals Business would combine with Outotec to create Metso Outotec.

The partial demerger is targeted to be completed in the second quarter of 2020, subject to the receipt of all required regulatory and other approvals. The Extraordinary General Meetings of both Metso and Outotec approved the transaction on October 29, 2019.

Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 3.2 billion in 2018. Metso employs over 14,000 people in more than 50 countries.

metso.com

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Metso’s valve business, future Neles Corporation, will showcase the latest valve solutions for a sustainable future of the pulp, paper and bioproducts industry at the Paperex 2019 event, taking place December 3–6, 2019, at International Exhibition Cum Convention Centre in New Delhi, India. Meet Metso experts at stand 5102.

Global megatrends and increasing awareness of sustainable production and environmental performance are transforming the pulp and paper industry as we know it. They are driving the need for reduced emissions, decreased water and fossil-fuel consumption and for more efficient production processes. The pulp and paper industry is also leading the way in new innovations aimed at replacing unsustainable plastics, microplastics, textile fabrics and fossil fuels, for example. Metso is committed to helping the industry meet the growing and changing demands, and capturing opportunities presented by the new emerging bioproducts.

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At the Paperex 2019 exhibition, Metso welcomes visitors to discover more about its valve solutions that help to drive the processes in the pulp, paper and bioproducts industry towards improved efficiency, reliability and environmental performance. The selection at the event includes Metso’s latest valve solutions, e.g. the Jamesbury® EasyFlow offering with a complete suite of products designed to work together for the easy creation of automated valve assemblies delivering reliable, high-quality performance.

For more information about Metso’s offering for the pulp, paper and bioproducts industry: www.metso.com/renewal 

For more information about Metso at Paperex 2019: https://www.metso.com/events/2019/paperex-2019/

Metso has solid experience in delivering engineered performance and reliability to customers through its leading product brands Neles® and Jamesbury®. Additionally, Metso is one of the leading suppliers of intelligent valve controllers.

About future Neles Corporation

The future Neles Corporation is a well-known flow control solutions and services provider to the oil and gas refining, pulp, paper and bioproducts industry, chemicals and other process industries. Neles employs 2,900 people and it has operations in more than 40 countries. Neles’ unaudited carve-out sales for full-year 2018 were EUR 593 million (January-September 2019: EUR 493 million) and carve-out operating profit was EUR 83 million (January-September 2019: EUR 75 million.)

Neles Corporation is planned to be created in a partial demerger of Metso, in which Metso’s Flow Control business would become the independent Neles Corporation and it would continue Metso’s listing on Nasdaq Helsinki. Simultaneously, Metso’s Minerals Business would combine with Outotec to create Metso Outotec.

The partial demerger is targeted to be completed in the second quarter of 2020, subject to the receipt of all required regulatory and other approvals. The Extraordinary General Meetings of both Metso and Outotec approved the transaction on October 29, 2019.

Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 3.2 billion in 2018. Metso employs over 14,000 people in more than 50 countries.

metso.com

Published in Exhibitions
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The Science Based Targets initiative (SBTi) has approved Metso’s greenhouse gas (GHG) emission targets. The GHG targets are part of Metso’s Climate Program and are applicable to all relevant emission sources: production, procurement, inbound and outbound transportation as well as the use of Metso’s products. 
The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The initiative aims at promoting science-based target setting and driving down global greenhouse gas emissions. Metso is one of the few corporations in its field to join SBTi in the efforts to prevent global warming.

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Metso reduces emissions throughout the product life-cycle

As a scope 1 and 2 GHG target, Metso has committed to a 25% reduction in carbon emissions in production by 2030. This is achievable by investing in renewable energy and improving the energy efficiency of the production processes.

Metso demands sustainability not only of its own production, but also 30% of its suppliers in terms of spend are required to set science-based emission targets by 2024. By streamlining transportation routes and optimizing warehouse locations, Metso aims for a 20% reduction in transportation emissions by 2025 (scope 3 GHG emissions target).

Through extensive research and development work, Metso has been able to significantly reduce the energy consumption in customer processes. To continue this development, Metso aims for a 10% reduction in GHG emissions in the most energy-intensive customer processes through the use of Metso products by 2025. This is further reinforced by the demanding energy-efficiency targets in all Metso R&D projects. As supportive actions, Metso will also offset flight emissions by 100% by 2021 and continue to find new ways to decrease emissions, for example, in offices.

Metso President and CEO Pekka Vauramo said: “We are extremely happy about the ratification of our science-based CO2 emissions targets. Our Climate Program is an important step in our goal of reducing greenhouse gas emissions. It is also an essential element in Metso being a responsible and trusted partner to our customers. We aim to improve our customers’ productivity in a sustainable manner, and we involve all our stakeholders in reaching this goal.”

For Metso, Scope 1 emissions are generated from fuels used in production, Scope 2 emissions are generated from the purchased energy and Scope 3 emissions are generated from transportation, procurement, travelling and product use.

For more information, please visit Metso’s website at https://www.metso.com/company/sustainability/climateprogram/.

Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 3.2 billion in 2018. Metso employs over 14,000 people in more than 50 countries.

metso.com

Kaisa Jungman, Director, Sustainable Business Development, Metso Corporation, tel. +358 20 484 3272, email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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Metso announced on October 26, 2018 its decision to invest in a new greenfield valve technology center in Jiaxing, China. The groundbreaking ceremony for the new plant took place today. The new technology center will start operations in spring 2020 and will serve the local and global markets.

"This is an exciting day for both Metso and our valve customers in various process industries globally - we are investing in improving service and delivery capabilities for them. China is an extremely significant market for our valve business, and the new technology center will have a strong role," says Kevin Tinsley, Senior Vice President for Valve Operations at Metso.

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The new location is designed to be a workplace for a total of 400 valve technology professionals, and the focus is on producing high-volume standard products and parts for all Metso's valve plants. Metso's technology center in the Waigaoqiao Free Trade Zone in Shanghai is continuing its operations, with a focus on highly engineered products.

Metso has valve technology or production centers in locations around the world: in China, North America, Brazil, Germany, Finland, South Korea, and India.

Metso employs more than 1,100 people at seven locations in China, serving all customer industries.

Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 2.7 billion in 2017. Metso employs over 12,000 people in more than 50 countries. metso.com

 

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Metso has signed an agreement to acquire the valve automation division of the India-based valve technology company Rotex Manufacturers and Engineers Pvt. Ltd (RMEPL). The company has a market-leading position in India in the actuator business and an advanced offering of switches, process valves, and valve automation products and solutions.

The acquired division's sales in the last fiscal year ending March 31, 2018, were approx. INR 1,550 million (EUR 19 million) and it employs approximately 275 people. It has two manufacturing facilities in the Mumbai area and sales offices in Mumbai, Vadodara, Kolkata and Pune. 

Rack & Pinion actuator is a competitive solution which can be used in several applications and industriesRack & Pinion actuator is a competitive solution which can be used in several applications and industries

The acquisition will complement Metso's actuation and valve automation offering and enable a full range of actuators for all major valve markets and a broader offering of limit switches for mid-market applications. It also introduces new products to Metso's process-valve portfolio for the oil and gas, pulp and paper, mining, water treatment and other process industries. 

"This acquisition represents an important strategic step for Metso's valves business. It expands our offering for the current customer segments, especially outside North America, and increases our presence in attractive new industries and application areas," says John Quinlivan, President, Valves business area, Metso. "In addition, the acquisition strengthens our capacities and our presence in the important Indian market."

"We are confident that RMEPL's capabilities and technological solutions will align perfectly with Metso's offering and global valve network. This acquisition will benefit our customers and employees who have been the most important asset of the Rotex Group," says Amit Shah, Managing Director, RMEPL. 

Closing of the acquisition is estimated to occur in July 2018 subject to satisfaction of customary closing conditions. The parties have agreed to not disclose the value of the transaction.

About Rotex Manufacturers and Engineers

Rotex Manufacturers and Engineers is part of the privately-owned Rotex Group. It produces actuators, limit switches, valve automation components and valves. Its customers include major original equipment manufacturers (OEMs) of valves, engineering, procurement and construction (EPC) companies, and mainly India-based major end customers in the oil and gas and power industries. Rotex Group will continue to retain full ownership in other businesses, including solenoid valves, positioners, electro-hydraulic controls for actuators, and its German subsidiary, Magwen valves.

Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 2.7 billion in 2017. Metso employs over 12,000 people in more than 50 countries. metso.com

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Metso signed a total of 24 new distributor agreements globally for its valve and valve controls businesses during 2017. The agreements cover many countries in Europe, such as UK, Spain, Croatia, Turkey, France and Benelux, and include four new distributors in India and Brazil. Furthermore, Metso's local presence is strengthened through collaboration with new partners in China, Korea and other Southeast Asian countries.

The new agreements help to further expand the coverage of Metso's valve offering in various customer industries. Depending on the country, the distributors serve process industries, such as refineries, chemical, fertilizer, steel, bioenergy, power, pulp and paper, and waste water. Many of the distributors also provide service support for Metso valves and valve controls.

"These agreements allow us to extend the availability of our valve solutions globally and provide comprehensive solutions for customers in an addition to our local services. The target is to strengthen our presence in the traditional core areas and to open new markets," says John Quinlivan, President of Metso's Valves business.

Neles® ball valve, Neles® globe valve with intelligent Neles® NDX valve controller and Jamesbury® butterfly valve are part of Metso's wide product portfolio.Neles® ball valve, Neles® globe valve with intelligent Neles® NDX valve controller and Jamesbury® butterfly valve are part of Metso's wide product portfolio.

Distribution channel expansion calls for recognized partners

Metso has a strong direct sales organization and an extensive service network globally to serve its customers. Extending the sales channel network complements the existing presence and is one the most important strategic growth initiatives in many key markets for Metso's valves business.

The target is to develop the sales channel and OEM (Original Equipment Manufacturing) business outside North America, where the sales model is largely based on an extensive distributor, agent and OEM network.

"We are looking for partners who are already recognized players in their markets, partners who see the specific value of our products and are willing to make the investment to promote our products. In addition, they should have the ability to carry the inventory and have proven closeness with their customers," concludes Kyle Rayhill, Channel Development Director of Metso's Valves business.

Experienced in valves

Metso has a solid experience in delivering engineered performance and reliability to customers in a wide range of process industries through its leading product families Neles® and Jamesbury®.

Metso's extensive flow control services offering covers expert services from maintenance planning and execution to performance solutions. Metso's valve technology centers and valve production facilities are in Finland, the United States, Germany, China, South Korea, India and Brazil. Metso has over 40 valve and field device service centers worldwide.

Metso is a world leading industrial company serving the mining, aggregates, recycling, oil, gas, pulp, paper and process industries. We help our customers improve their operational efficiency, reduce risks and increase profitability by using our unique knowledge, experienced people and innovative solutions to build new, sustainable ways of growing together.

Our products range from mining and aggregates processing equipment and systems to industrial valves and controls. Our customers are supported by a broad scope of services and a global network of over 80 service centers and about 6,000 services professionals. Metso has an uncompromising attitude towards safety.

Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 2.6 billion in 2016. Metso employs over 11,000 people in more than 50 countries. Expect results.

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On December 22, 2017, President of the United States signed tax reform legislation which includes, among other things, a reduction in the USA federal corporate income tax rate from 35 percent to 21 percent from the beginning of the tax year 2018.

metso logo new oneThe change will have a favorable impact on Metso's effective tax rate going forward. In the financial year 2017, the change will reduce Metso's deferred tax asset. According to a preliminary analysis, Metso estimates to report a reduction in deferred tax asset of approximately EUR 10 million in Q4 2017 and a corresponding deferred tax expense in the income statement.

The change in the deferred tax asset does not have any cash flow effect. Additionally, the change does not impact the time frame when the deferred tax asset is expected to be utilized.

Metso is a world leading industrial company serving the mining, aggregates, recycling, oil, gas, pulp, paper and process industries. We help our customers improve their operational efficiency, reduce risks and increase profitability by using our unique knowledge, experienced people and innovative solutions to build new, sustainable ways of growing together.

Our products range from mining and aggregates processing equipment and systems to industrial valves and controls. Our customers are supported by a broad scope of services and a global network of over 80 service centers and about 6,000 services professionals. Metso has an uncompromising attitude towards safety.

Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 2.6 billion in 2016. Metso employs over 11,000 people in more than 50 countries. Expect results.

www.metso.com, twitter.com/metsogroup  

For further information, please contact:

 Jarno Siivola, Vice President, Tax, Metso Corporation, tel. +358 50 468 1856

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Metso's President and CEO Nico Delvaux has decided to resign and assume the position of President and CEO of ASSA ABLOY AB. He will leave his duties in Metso on June 18, 2018, at the latest.

metso logo new one"The Board of Directors is obviously disappointed that Nico has decided to leave Metso. However, the business plans and organizational changes that have been decided during the fall have the Board's full support and everybody in Metso will focus on executing these plans going forward. The Board will initiate a search for a new President and CEO," says Mikael Lilius, Chairman of Metso's Board of Directors.

"I was offered a once-in-a-lifetime opportunity that I could not turn down," says Nico Delvaux. "I have enjoyed my time at Metso and I'm grateful for the Board and all the Metso people for the opportunity to work with them over the past months. Based on my experience, I'm confident that Metso has significant potential to drive profitable growth in line with its strategy."

Metso is a world leading industrial company serving the mining, aggregates, recycling, oil, gas, pulp, paper and process industries. We help our customers improve their operational efficiency, reduce risks and increase profitability by using our unique knowledge, experienced people and innovative solutions to build new, sustainable ways of growing together.

Our products range from mining and aggregates processing equipment and systems to industrial valves and controls. Our customers are supported by a broad scope of services and a global network of over 80 service centers and about 6,000 services professionals. Metso has an uncompromising attitude towards safety.

Metso is listed on the Nasdaq Helsinki in Finland, and had sales of about EUR 2.6 billion in 2016. Metso employs over 11,000 people in more than 50 countries. Expect results.

Further information, please contact:

Mikael Lilius, Chairman of the Board of Directors, tel. +358 20 484 3001

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