Metso Outotec has signed a deal to sell off its eastern Finland-based business arm Outotec Turula Oy to UAB Arginta Engineering of Lithuania.
No financial details were released on the divestment of the division, which produces equipment and components for minerals processing and metal refining.
The spun-off company’s 120 employees will continue to be employees of Outotec Turula Oy, and Metso Outotec has inked a long-term deal with the new owner for manufacturing services.
Arginta Engineering engineers and manufactures machinery and equipment, primarily in the Nordic region.
The transaction is expected to close on October 1.
Source: Metso Outotec