Metso Outotec Announced Sale of Aluminum Business to REEL International

SEATTLE (Scrap Monster):  Metso Outotec announced that it has reached an agreement with France-headquartered REEL International to sell its aluminum business. The value of the transaction was not disclosed. The sale transaction is expected to close during the first quarter of 2021.

According to Metso press release, the sale transaction is unlikely to have any material impact on the company’s financial results. It must be noted that the business has been put up for sale almost a year before and the operations have been discontinued since then.

The assets under the sale transaction include green anode plants, anode rodshops, and casthouses as well as related equipment and services. Upon closing nearly 120 Metso Outotec employees will become part of REEL.

Jari Ålgars, President of Metals business area, Metso Outotec hoped that its aluminium technologies and experts will have a good new home at REEL International. Meantime, Antti Koulumies, Vice President, Aluminium business line, Metso Outotec noted that the agreement is a proof of the hard work and commitment of its team. The transaction will help the team to continue supporting its customers in a more efficient manner, he added.

Philippe Frantz, Chairman of the Board of REEL International SAS welcomed Metso Outotec’s aluminium business and personnel to the REEL family.

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