Outotec plans to divest three businesses in its Metals, Energy & Water portfolio
Finland-headed Outotec Oyj, an integrated mining technologies and services provider for the full value chain from ore to metals including water management, energy recovery as well as waste and side streams, has announced that it intends to divest three businesses from its Metals, Energy and Water segment’s portfolio. These businesses relate to aluminum, waste-to-energy and sludge incineration.
According to a statement, the aluminum business to be divested includes green anode plant, rod shop, and certain casthouse technologies as well as related service operations.
The waste-to-energy business to be divested is comprised of biomass, wood waste and various other fuel plants including related service operations. The sludge incineration business to be divested comprises of delivery of plants for the treatment of municipal and industrial sludge and related service operations.
In total, approximately 250 staff are currently working in these three businesses.
In Outotec’s 2019 financial results, the businesses to be divested will be classified as discontinued operations, including the transfer of non-current assets held for sale and liabilities directly attributable to them on separate lines in the statement of financial position.
Pursuing these strategic actions will enable Outotec to better focus on its core technologies in minerals processing and metals refining. We, of course, remain committed to serving our energy and aluminum customers until these divestments have been completed, said Outotec’s CEO Markku Teräsvasara.