Metso was created in 1999 through the merger of Valmet and Rauma, two companies which manufactured both equipment (notably paper-making machines) and process control systems (measuring instruments, valves, control systems). The company decided to reorganize and split into two financially independent entities.
The first will retain the name Metso as well as the "Automation" (i.e. instrumentation and process control) and "Mining and Construction" divisions.
The other company will be called ...Valmet. The new entity takes over the Pulp and Paper and Power/Energy businesses.
Everything is in place, and the allocation of positions and the distribution of capital have been decided. Both companies will be up and running by the end of the year.
Learn more: https://www.metso.com/