Metso Outotec Announced Divestment of Metal Recycling Business

Meantime, the divestment is not expected to have material impact on Metso Outotec’s financial results.

SEATTLE (Scrap Monster): Metso Outotec has reached an agreement with Stockholm, Sweden-based investment company, Mimir to divest its metal recycling business to one of Mimir’s affiliates. The transaction is expected to close during the first half of 2022. The value of the transaction remains undisclosed. Meantime, the divestment is not expected to have material impact on Metso Outotec’s financial results.

The divestment of metal recycling business follows the completion of divestment of waste recycling business. The company had announced its intention to do so in October 2020. Incidentally, the recycling businesses were reported as part of discontinued operations in the company’s financial statements.

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Piia Karhu, Senior Vice President, Business Development and Metal Recycling business line at Metso Outotec noted that the metal recycling business will continue to implement its strategy together with the new owner Mimir. The new owner has the resources to quickly expand its leading market position and to be able to provide its products and services to a growing, global customer base, said Ioannis Giouvanitskas, Vice President of Metso Outotec Metal Recycling.

The divested businesses include the brands Lindemann and Texas Shredder. The business will change name and operate globally under the Lindemann brand.

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