Metso Outotec to divest Outotec Turula Oy in Finland

Photo: Metso Outotec

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.

 

”Our target was to find a new owner for the Turula workshop, a partner who would be fully focused on manufacturing and engineering with the ability to develop and grow the operations to better meet the future needs of all its customers. Arginta Engineering is such a company, and it can also provide development opportunities for the Turula employees,” says Jari Ålgars, President of the Metals business at Metso Outotec.

 

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.

 

”Our strategy is based on professionalism and close cooperation with our customers. Turula’s professionals and their advanced machining and assembly expertise together with the unit’s demanding and robotized welding capability will be a great addition to our team. We see a lot of demand for this type of expertise also in the future,” says Tomas Jaskelevičius, Managing Director of Arginta Engineering.