Metso moves its Pumps business area under the Minerals segment
Metso Corporation's stock exchange release, February 11, 2019 at 9:55 am EEST
Metso is moving its Pumps business area under the Minerals segment. The change is designed to better support the common customer interface and the growth plans of the Pumps business area. Previously, Pumps was reported under the Flow Control segment together with Valves. Metso will continue to report externally under the two segments, Minerals and Flow Control, and will run its operations through seven business areas grouped under these two segments.
The majority of Metso's Pumps business area's customers are common to the Minerals segment, and sales already largely operate through the Minerals market area structure. Going forward, the Pumps business area will be headed by Mikko Keto, who acts also as President of Metso's Minerals Services business area. John Quinlivan will continue as President of the Valves business area.
The change is effective immediately. Pumps will be reported under the Minerals segment as of January 1, 2019. Metso will provide comparable information for 2018 based on the new segment structure before the end of the first quarter of 2019.
Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability.
Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 3.2 billion in 2018. Metso employs over 13,000 people in more than 50 countries.
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