Metso Outotec is changing its name to Metso Corporation.
At the company’s Annual General Meeting in May, the name change proposed by the board of directors was approved.
“After the successful integration of Metso and Outotec, we will focus on growing a strong unified Metso company and brand,” said President and CEO of Metso, Pekka Vauramo.
“We have combined two valuable companies into one strong Metso. Our focus is clear: we continue enabling sustainable modern life and transforming the industry with a clear strategy and strong culture, supported by a name that is short yet established and well recognized among all our stakeholders. Services are an extremely important part of our business, requiring a strong name,” he continues.
In 2019, Metso Minerals and Outotec agreed to merge to create Metso Outotec, a company that will deliver process technology and equipment to the minerals, metals and aggregates industries.
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The change of the parent company name is effective May 4, 2023, but globally the name change will be implemented in a phased manner. The visual identity of the company remains unchanged, but the new name is reflected in the company logo.
Outotec continues as a product brand and carries significant value as the name of some key technologies and products.
At the AGM, the board of directors was authorized to decide on the repurchase of an aggregate maximum of 82,000,000 of the company’s own shares, which corresponds to approximately 9.9 per cent of all shares. However, the company together with its subsidiaries cannot at any moment own more than 10 per cent of all the shares of the company.
The AGM also elected nine members of the board of directors. Kari Stadigh was re-elected as Chair, Klaus Cawén as Vice Chair. Brian Beamish, Terhi Koipijärvi, Ian W. Pearce, Emanuela Speranza, and Arja Talma retained their roles at board members, while Niko Pakalén and Reima Rytsölä were elected as new board members.
The board’s term of office will end at the closing of the Annual General Meeting 2024.