Finnish mining operations and technology firm Metso Outotec announced yesterday the sale of its aluminium assets to French firm REEL International SAS for an undisclosed sum.
Metso Outotec has had its alumnium business on the market for about a year prior to yesterday’s agreement, ultimately listing it as discontinued on its books. The parties say they will close the sale by the spring.
Among the assets REEL is obtaining from Metso Outotec are green anode plants, anode rodshops, and casthouses used in aluminium smelters, along with equipment and services related to the above. Also transferred in the deal is a labor force of about 120.
Jari Ålgars, President of the Metso Outotec Metals business area, said in a related press release that the sale was in the best interests of all involved.
“I’m very pleased that our aluminium technologies and experts will have a good new home at REEL International, where the development of the business will continue for the benefit of the global aluminium customers.”
“It’s rare to find another business with such a complementary product portfolio in primary aluminium technology, and we’re excited to be joining REEL International,” noted Antti Koulumies, Vice President, Metso Outotec Aluminium business line. “I’m confident that this transaction will enable our team to continue supporting our customers’ businesses in an efficient way. This agreement is proof of the hard work and commitment of our team during this extraordinary year.”
“We’re pleased to welcome Metso Outotec’s aluminium business and personnel to the REEL family. With our complementary product portfolio and geographical footprint, we’ll be able to serve our customers even better around the world,” concluded Philippe Frantz, REEL International Chairman of the Board.
Metso Outotec said it expects the transaction will have no material change on its bottom line.