Outotec Oyj (Espoo, Finland; www.outotec.com) has taken a strategic decision to divest three businesses in its Metals, Energy & Water segment
These businesses relate to aluminum, waste-to-energy and sludge incineration.
The aluminum business to be divested includes a green anode plant, rod shop and certain casthouse technologies as well as related service operations.
The waste-to-energy business to be divested comprises of biomass, wood waste and various other fuel plants including related service operations.
The sludge incineration business to be divested comprises of delivery of plants for treatment of municipal and industrial sludge and related service operations.
In Outotec’s 2019 financial results, the businesses to be divested will be classified as discontinued operations, including the transfer of non-current assets held for sale and liabilities directly attributable to them on separate lines in the statement of financial position. The comparison figures in the statement of income will be restated for 2018 to show the discontinued operations separately from continuing operations.
“Pursuing these strategic actions will enable Outotec to better focus on its core technologies in minerals processing and metals refining. We of course remain committed to serving our energy and aluminum customers until these divestments have been completed,” says Outotec’s CEO Markku Teräsvasara.