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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Metso Outotec Oyj    MOCORP   FI0009014575

METSO OUTOTEC OYJ

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Metso Outotec Oyj : and Boliden renew their service contract for the Aitik copper mine in Sweden

10/23/2020 | 02:15am EST
Press ReleaseOctober 23, 2020 09:00:00 AM CET
Metso Outotec and Boliden renew their service contract for the Aitik copper mine in Sweden

Metso Outotec Corporation's press release on October 23, 2020, at 9:00 a.m. EEST

Metso Outotec and Boliden have signed an extension of their service contract for Boliden's Aitik copper mine in Gällivare, Northern Sweden. The 3+2-year extension of the Life-Cycle Services agreement covers the supply of mill lining, chute lining solutions, preventive maintenance of the grinding circuit and recycling of used wear parts. The value of the order will not be disclosed. The first part of the contract has been booked in Metso Outotec's orders received in Q3, 2020.

The contract is a performance-based cost-per-ton agreement, in which Metso Outotec gets paid according to the output of the customer's process. The goal is to ensure the availability of the grinding circuit and to maximize valuable production time, striving for a common goal that benefits both parties.

Long partnership developing responsible mining business

Metso Outotec and Boliden have cooperated since the 1960s. Throughout the decades, the collaboration has evolved to meet new emerging needs, while continuing to improve uptime and annual production.

Safety is Boliden's top priority and enhancing it is also embedded in the scope of the new contract. Metso Outotec will provide solutions that simultaneously cut maintenance time and increase the wear life of parts even further. The new contract also focuses more on the management of worn wear parts, because Metso Outotec willdevelop capabilities to recycle and dispose them more sustainably. The AG mills in Aitik will continue to use Metso Outotec's innovative Megaliner(TM) mill lining.

Megaliner speeds up maintenance

Megaliner helps to maximize the availability of large mills by utilizing an innovative design that speeds up liner replacement. The larger-than-average liners mean that fewer individual pieces are needed. Megaliner also has fewer attachment points compared with conventional liners, further improving installation and removal time. It also improves worker safety during maintenance, because the liners are bolted into position from outside the mill.

The pebble mills and two regrind mills will be lined with rubber and Poly-Met mill linings.

Aitik is one of the largest copper mines in Europe. In 2019, the mine produced close to 41 kt of copper, employing nearly 800 people.

For further information, please contact:

Heikki Metsälä, Senior Vice President, Mill and Chute business line, Metso Outotec, tel. +358 20 484 100, email: heikki.metsala(at)mogroup.com

Helena Marjaranta, Vice President, Communications and Brand, Metso Outotec, Tel. +358 20 484 3212, email: helena.marjaranta(at)mogroup.com

Metso Outotec is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing, metals refining and recycling industries globally. By improving our customers' energy and water efficiency, increasing their productivity, and reducing environmental risks with our product and process expertise, we are the partner for positive change.

Headquartered in Helsinki, Finland, Metso Outotec employs over 15,000 people in more than 50 countries and its pro forma sales for 2019 were about EUR 4.1 billion. The company is listed on the Nasdaq Helsinki. mogroup.com, twitter.com/metsooutotec

Disclaimer

Metso Outotec Oyj published this content on 23 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 October 2020 06:14:05 UTC


© Publicnow 2020
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Financials
Sales 2019 1 210 M 1 440 M 1 440 M
Net income 2019 27,3 M 32,5 M 32,5 M
Net Debt 2019 20,1 M 23,9 M 23,9 M
P/E ratio 2019 57,1x
Yield 2019 1,74%
Capitalization 944 M 1 062 M 1 124 M
EV / Sales 2018 0,44x
EV / Sales 2019 0,88x
Nbr of Employees 3 750
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Managers
NameTitle
Pekka Juhani Vauramo President & Chief Executive Officer
Percy Henrik Mikael Lilius Chairman
Eeva Sipilä Chief Financial Officer & Deputy CEO
Matti Juhani Alahuhta Vice Chairman
Christer Göran Harald Gardell Director