The business includes green anode plants, anode rodshops and casthouses used in aluminium smelters
The business is based primarily in Germany, Canada and the United Arab Emirates. (Credit: Metso Outotec Oyj)
Metso Outotec has agreed to sell its aluminium business to REEL International, a French company, for an undisclosed amount.
The business to be sold includes green anode plants, anode rodshops and casthouses used in aluminium smelters as well as related equipment and services.
As part of the deal, nearly 120 employees of Metso Outotec will join REEL. The deal is expected to be closed in the first quarter of next year.
As per the company, the business had been put up for sale a year ago and since then it has been reported under discontinued operations.
Metso Outotec metals business area president Jari Ålgars said: “I’m very pleased that our aluminium technologies and experts will have a good new home at REEL International, where the development of the business will continue for the benefit of the global aluminium customers.”
The deal is expected to make REEL one of the leading technology providers in global aluminium industry.
It is based primarily in Germany, Canada and the United Arab Emirates, with presence in China, India and Australia and is expected to strengthen the international presence of REEL.
Metso Outotec aluminium business line vice president Antti Koulumies said: “It’s rare to find another business with such a complementary product portfolio in primary aluminium technology, and we’re excited to be joining REEL International.
“I’m confident that this transaction will enable our team to continue supporting our customers’ businesses in an efficient way. This agreement is proof of the hard work and commitment of our team during this extraordinary year.”
Separately, Metso Outotec has secured €100m contract to deliver a complete package of key process equipment for a greenfield zinc plant in Verkhny Ufaley in the Chelyabinsk region in Russia.
The order includes equipment for zinc concentrate processing, iron precipitation, solution purification and electrowinning technologies for safe and sustainable zinc processing based on OKTOP reactor and plant products.