Metso Outotec has signed an agreement to sell Outotec Turula Oy, located in Outokumpu in eastern Finland, to UAB Arginta Engineering in Lithuania. Closing of the transaction is expected to occur on October 1, 2021. The parties have agreed not to disclose the value of the transaction. The transaction has no material impact on Metso Outotec’s financial results.
Outotec Turula Oy manufactures equipment and components used in the minerals processing and metals refining industries. All the existing approximately 120 employees will continue as employees of Outotec Turula Oy. Metso Outotec has signed a long-term manufacturing service agreement with the new owner.
Arginta Engineering specializes in the engineering and manufacturing of machinery and equipment for several industry segments, and its customers are mainly located in the Nordic countries. Arginta Engineering operates two manufacturing locations in Lithuania and employs over 200 manufacturing and engineering specialists.