The Metso Outotec Board of Directors has proposed changing the company’s current name to Metso Corp. at the next annual general meeting. The proposal is based on the grounds that the integration of Metso and Outotec, which became effective on July 1, 2020, is completed, and the company’s current strategy focuses on growing a strong unified company that builds on the long history and legacy of its businesses to create significant customer value.
In related news, Metso Outotec revealed it was involved in legal proceedings with MW High Tech Projects UK Ltd. in connection with three waste-to-energy plants in the United Kingdom. Prior to the Metso Outotec merger, Outotec supplied its gasification technology to these projects, which date back to 2015. MW has made various claims against Metso Outotec and Metso Outotec has significant counterclaims in the litigation, which commenced in 2019.
Metso Outotec continues to reject MW’s claims in all three cases. Metso Outotec has reported the Waste-to-energy business as a discontinued operation since the merger and is no longer offering these solutions to its customers.
