Metso Outotec announced in October 2020 its decision to divest its recycling business, which includes the waste recycling and metal recycling business segments, on the basis of the company’s strategic focus on aggregates and mining industries. The transaction is expected to close in the fourth quarter of 2021.
The parties have decided not to disclose the value of the transaction. The sale will have a minor positive impact on Metso Outotec’s financial results. The waste recycling activity has been reported as part of the discontinued operations in the financial statements of Metso Outotec. Metso Outotec is continuing the process of selling its Metals Recycling business line.
“We are very happy to have found a new owner for our company, whose strategic thinking and ambitions are so well aligned with ours,” says Uffe Hansen, who heads the waste recycling business. “As a stand-alone company focused solely on waste recycling, we will be more nimble and customer-centric to further exploit growth opportunities. “
“The waste recycling business, M&J, has a proven track record with a solid growth profile, in an attractive market,” said Lasse Heinonen, President and CEO of Ahlström Capital. “The company is well positioned to contribute to sustainable development through its premium brand offering, robust operations and qualified personnel. I believe that Ahlström Capital, as the owner, will bring more focus and resources for growth initiatives and support the stand-alone business to reach its full potential.
The waste recycling business will operate under the M&J brand and its head office will be in Horsens, Denmark. All of the company’s current employees, approximately 120 people, will be transferred to the new company as part of the transaction. The net turnover of the activity in 2020 amounts to some 50 MEUR.