Metso divests its ferrous business
Metso has signed an agreement to sell its ferrous business to SMS group, a global company providing technology and services in plant construction and mechanical engineering for the metals industry.
Some of the businesses to be divested include travelling grate pelletising and CircoredTM direct reduction process, as well as the related service business.
About 180 employees, primarily based in Germany, India and China, are planned to join the SMS group at the closing of the transaction.
The closing of the transaction, which is subject to regulatory approvals, is expected to take place in Q1 CY26.
Metso minerals business area president Piia Karhu says SMS group is a great home for the ferrous technologies.
“It can offer both focus and scale for these businesses and hence capitalise on their full potential together with the strong team that is committed to further develop these technologies for the benefit of the customers,” she said.
SMS group chief technology officer Thomas Hansmann says the company is very pleased to add these future technologies to its product portfolio including the respective know-how carriers.
“The intention is for the CircoredTM technology to help us pursue our ambition to be a leading partner in the green transformation of the metals industry,” he said.
Metso has also made additional decisions related to the rest of the ferrous and heat transfer and metals and chemical processing businesses that have been reported as discontinued operations.
Metso will retain the businesses that have a positive market outlook and strong synergies with the company’s offering to the copper and battery minerals industries.
Planning of wind down will be initiated for the rest of the businesses. The retained businesses will be reported as part of Metso’s minerals segment.