Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Finnish equipment manufacturer Metso Outotec is considering as many as 160 layoffs in its global metal refining operations in line with its turnaround strategy.


The move is expected to save the company €15mn ($18.23mn) and intends to boost competitiveness of its metals refining business and financial performance. The company added that the restructuring was being undertaken in order to adapt to the current market demand in this segment. Metso’s global metals business employs About 1,100 workers. The company will decide on the full measure of the restructuring by Q1 2021.


Metso Outotec’s metals refining business area includes varieties of equipment for processing ores into refined metals. The merger of Metso and Outotec in early 2020 added production and design of smelter, sintering and alumina processing equipment to the division. The company’s Recycling business entails shredding, shearing and baling equipment that the company has acquired over the last 20 years. 


($1 = €0.82)


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