Metso Outotec celebrates first anniversary with notable achievements and by building future sustainable business
A year ago, Metso and Outotec merged and created a new leader in the mining, aggregates and metals refining industries, making the most of the expertise that covers the full spectrum of products, services and solutions from ore bodies to metals. With over 15,000 employees, presence in over 50 countries and sales close to 4 billion euros in 2020, it is one of the largest in its field.
Metso Outotec’s strategy is characterized by a strong focus on sustainability and commitment to the 1,5˚C climate target. Mining, aggregates and metals refining industries play a significant part in improving energy and water efficiency, reducing emissions and advancing circularity globally.
“Our shared ambition with our customers and society at large is to use natural resources in a responsible manner. A significant share of our business today comes from technologies that help our customers improve safety, lower their energy and water consumption or reduce emissions. It is our aspiration to be their first choice”, says Pekka Vauramo, President and CEO of Metso Outotec.
To address its customers’ challenges, Metso Outotec launched 24 new industry-leading products or services during its first 12 months, such as energy- and water-efficient mining and industrial filtration solutions, circularity solutions to treat electronic scrap, a furnace camera for safer smelting operations and three shutdown services programs for improved performance.
More than 100 products that have proven sustainability features with our Planet Positive label is a tangible sign of commitment to a safer or more environmentally advanced processing of minerals and metals. Over 90% of Metso Outotec’s R&D projects also have sustainability targets defined.
The company’s progressive work to advance sustainable business was acknowledged in early 2021, as Corporate Knights named Metso Outotec 8th in their list of the world’s most sustainable companies.
Synergies on target, culture evolving
Synergies from joint operations are progressing well. By the end of March, the achieved cost synergies totaled EUR 83 million and the target of 120 million year-end run rate is within reach. Revenue synergies from cross-sales opportunities are also supporting sales.
Creating a new Metso Outotec company culture has been identified as a crucial part of future success. The company is building a performance culture where the employees can thrive and grow and at the same time live by the company values, excel in their capabilities and maintain high ambition and engagement.
“Looking back, we have witnessed great progress during the first twelve months together, and it has truly been a remarkable journey. Not only are we doing well against our synergy targets, but it has also been great to see how well our sustainability-focused strategy resonates with our customers, employees and other stakeholders, and how they recognize the value we generate”, Vauramo continues.