Metso Corporation has commenced a process to study the potential separation of the company’s Pulp, Paper and Power businesses into a new company, which would be listed separately on the NASDAQ OMX Helsinki stock exchange.
Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas.
Jukka Viinanen, Metso’s chairman of the Board, says the Finland-based company has developed its businesses “purposefully” during recent years, to the point where entering the next stage of development would be “smoother as separate companies”.
“Both of them are strong global businesses with well-established positions in their customer industries,” Viinanen says.
“By separating the two, we would seek to accelerate strategy implementation, as clearer business structures would increase the focus and ambition of the two companies with distinct growth strategies.”
The Board also believes that both companies would be seen as attractive investments, he adds, which “has the potential to increase value for our shareholders”.
The Metso Board aims to finalise the study process and announce further details about the possible separation by the end of the second quarter of 2013.
