Finland-based global engineering and technology company Metso has agreed to sell parts of its ferrous business to German plantmaker SMS Group. The deal includes travelling grate pelletizing and CircoredTM direct reduction technologies, plus related services. About 180 employees in Germany, India and China will transfer to SMS Group when the transaction closes, expected in the first quarter of 2026. The transaction has no material profit and loss impact on Metso, as the company discontinued the transferred services in 2023.
SMS Group's CTO Thomas Hansmann said that the CircoredTM technology will support the company's goal of leading the metals industry's green transformation.
Metso will retain some ferrous operations with strong copper and battery minerals synergies, while planning to wind down others, consolidating them under its minerals segment.