IRON and STEEL
Mining Machinery & Equipment
Outotec has finalized the negotiations with employee representatives announced on October 26, 2017 to outsource its German-based project engineering function to Citec. As a result of the negotiations, 59 Outotec employees have transferred to Citec as of April 1, 2018.
Citec is a global engineering company providing multi-discipline engineering services to the energy and other technology-dependent industries. The outsourcing will not have an impact on Outotec's financial guidance for 2018.
"By outsourcing part of our engineering activities, we create more flexibility to our organization and decrease Outotec's fixed costs in the long run. Citec is a suitable partner for us as they have already presence and an existing customer base in Germany and Finland, and excellent references", says Kalle Härkki, Head of Outotec's Metals, Energy & Water business.
Outotec has signed a contract for the Front-End Engineering Design (FEED) of a new copper smelter to be located at Benete Bay in Sumbawa, Indonesia.
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Base metals prices on the London Metal Exchange were mostly lower during morning trading on Friday October 5, with aluminium bucking the trend.