Metso shuffles business units, foresees growth in biopower
September 12, 2011 By Pulp & Paper Canada
Metso Corp.’s Board of Directors has decided to modify the company’s business structure in order to more effectively reach the company’s future business targets. Metso’s Power business, which is presently part of Energy and Environmental…
Metso Corp.’s Board of Directors has decided to modify the company’s business structure in order to more effectively reach the company’s future business targets. Metso’s Power business, which is presently part of Energy and Environmental Technology segment, will be integrated with Paper and Fiber Technology segment. The Recycling business, also currently part of Energy and Environmental Technology, will be managed as a separate entity and Metso will review other strategic alternatives for it.
The company notes that Pulp, paper and power industries offer solid growth and profit opportunities. Metso’s ambition is to develop the business as the leading global pulp, paper and biopower solutions provider and further develop our business in other biomass technology solutions.
“We believe that through increased global integration of the Paper, Fiber and Power businesses we can further improve our profitability and cash flow and create a platform for further strategic development and growth”, says Matti Kähkönen, Metso’s CEO.
“Our order book is currently at the record high level giving us good backbone for further development. To ensure continued profitable growth and value creation of Metso, and to gain the critical size needed to be competitive, we have made decisions to sharpen our business portfolio,” says Kähkönen.
Pasi Laine, currently head of the Paper and Fiber Technology business unit, will lead the Pulp, Paper and Power unit. In addition to his business responsibilities, Laine will continue as executive vice-president and deputy to CEO.
The new business structure will be effective January 1, 2012.
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