Finnish mining equipment manufacturer Metso Outotec has agreed to sell its Aluminum division to Reel International based in France.
According to a media release by Metso, the assets under the sale agreement include its green anode plants, anode rodshops, and cast houses used in aluminum smelters and related operations. The companies plan to complete the transaction by Q1 2021 wherein 120 Metso Outotec employees will move to Reel. Metso had discontinued its aluminum operations last year after announcing plans to sell the business.
The value of the deal was undisclosed, though Metso indicated that it will not impact its earnings. Reel is primarily known for manufacturing, assembly, and installation of lifting equipment such as cranes and monorails.
Metso Outotec has also received an order for a new zinc processing plant from a firm based in Verkhny Ufaley in Chelyabinsk, Russia worth €100mn. The order includes equipment for an automated zinc concentrate processor and ingot caster with electrowinning technology and high-efficiency cooling towers. The capacity or delivery schedule for the plant was not disclosed.