Metso Refutes Sandvik Merger Rumors

After Swedish business newspaper Dagens Industri reported that Finnish mining equipment manufacturer Metso was considering a merger with Sweden’s Sandvik mining division, Metso refuted these market rumors.

Speculation arose following Metso's announcement earlier this year that it would restructure its minerals equipment division, leading to approximately 240 positions worldwide being cut. The company stated that these changes are intended to address market shifts, particularly the increasing focus on strategic minerals vital for the energy transition. Rumors were further fueled by historical exchanges between the two companies. In 2006, Sandvik acquired Metso’s Powdermet AB division, which specialized in powder metallurgy components using hot isostatic pressing (HIP) technology. However, Juha Rouhiainen, Vice President of Investor Relations, Metso, confirmed that there is no information supporting these rumors.

In an interview with MBN, Giuseppe Campanelli, President for North and Central America, Metso, stated that the company is prioritizing the expansion of its Planet Positive portfolio with sustainable technologies and services for 2024. “The portfolio grew significantly in the past couple of years, with 30 launches in 2022 and an additional 10 in 2023, including new technologies that extend our existing solutions to new customer segments, often incorporating significant digital elements.”