Finland-based global engineering and technology company Metso Outotec Corporation has announced that it has signed an agreement to divest its Metal Recycling business line to a subsidiary of Sweden-based investment company Mimir. The transaction is expected to be closed in the first half of 2022.
The value of the transaction has not been disclosed. The divestment will not have a material impact on Metso’s financial results.
The Metal Recycling business sold to Mimir will change its name in conjunction with the divestment and will operate globally under the Lindemann brand, with headquarters in Düsseldorf, Germany.
Meanwhile, the divestment of the company’s Waste Recycling business has already been completed.