Metso has denied recent reports of a merger between it and the mining business of Sandvik, releasing a statement confirming its position on August 19.
The initial report alleging a tie-in between it and the Swedish equipment producer came from Swedish news outlet Dagens Industri.
“Market rumors have been made public regarding Metso and Swedish Sandvik’s mining business. Metso has no information related to the speculations and no related insider project exists,” said investor relations vice president Juha Rouhiainen.
Of note, the companies have historically purchased units from the other before, though their last transaction was in 2006.
Source: Metso