SSE Renewables has awarded Fugro a ground investigation contract for its Coire Glas hydro pumped storage scheme located in the Great Glen in Scotland. With a potential capacity of up to 1500MW, Coire Glas was in the news recently when SSE Renewables announced that it was to make a £100 million investment to see the project progress as the first large-scale pumped storage scheme to be developed in the UK for more than 40 years.
Metso Outotec completes strategic review of its Metals business
Metso Outotec completes strategic review of its Metals business (credits: Metso Outotec)
Metso Outotec has completed the strategic review of its Metals business. As a conclusion, the company has decided to initiate the divestment of two of its three Metals businesses: Metals & Chemical Processing and Ferrous & Heat Transfer. The Smelting business will remain part of Metso Outotec’s portfolio.
“Several options were considered when evaluating the strategic fit of the Metals businesses in Metso Outotec’s portfolio and the best environment to develop them. The past two years’ performance has proven that the offering is competitive, and the business is healthy. However, our strategy focuses on accelerating the growth and profitability of our Aggregates and Minerals businesses, which also have a strong aftermarket potential. Metals’ Smelting business complements our sustainable non-ferrous metals market offering, and therefore we will continue developing it as part of Metso Outotec, whereas the Metals & Chemical Processing and Ferrous & Heat Transfer businesses can be best developed with an owner that can offer both focus and scale and hence capitalize on the full potential of the technologies,” says Pekka Vauramo, President and CEO of Metso Outotec.
Metso Outotec’s Smelting business sales totaled EUR 155 million in 2022. Smelting projects consist of engineering, procurement, and supply (EP/EPS) deliveries and, for example, Flash smelting technology is part of the portfolio.
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