Engineering company Metso has announced changes to its portfolio strategy and appointed a new president of the company’s valves business area.
Olli Isotalo was selected for the role and will start in the position 15 July, 2019, where he will also become part of the company’s executive team.
Isotalo has previously served as CEO of aerospace company Patria Oyj and held executive positions at cargo handling company Cargotec.
“I am excited to join the Valves business area, which has consistently reported good results and has seen overall strong development over the past years,” Isotalo said.
“I eagerly look forward to developing a new strategy and creating new growth opportunities for Valves together with its skilled and motivated personnel.”
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Metso’s Board of Directors has also decided to develop the Minerals and Flow Control segments of the company separately from each other.
The Minerals segment includes equipment and services sold to mining and aggregates customers while the Flow Control segment consists of valves and related services sold to process industries.
“All Metso’s businesses and the two segments that are composed of these, have attractive growth opportunities in the coming years. Capitalising on these opportunities will call for efficient decision-making and allocation of resources,” Metso’s President and CEO Pekka Vauramo said.
“However, our businesses have significant differences relating to, for example, customers, cyclicality, growth drivers, sales channels and product development. This is why we made the decision to develop Minerals and Flow Control strategies separately from each other.
“In addition, Minerals and Flow Control share a limited amount of synergies, the majority of which are administrative, thus the separation will make the preparation and implementation of their respective strategies more efficient.”