Metso says it continues to strengthen its position as a trusted partner in providing customised solutions for mining and aggregates clients by expanding the number of its Life Cycle Services (LCS) agreements.
In 2024, Metso secured over 100 new LCS contracts with both global and regional mining companies, as well as large quarries and aggregate contractors.
Last year, customers increasingly recognised the value of having performance-based contracts in place, as well as the benefits of including field service offerings within the contracts to provide essential on-site technical expertise and support, Metso says.
Miika Tirkkonen, Senior Vice President, Integrated Service Solutions, Metso, said: “In addition to newly signed contracts, we achieved progress in transforming our contract portfolio mix with the addition of more performance-based agreements. In 2024, Metso reached over 40% growth in performance-based contracts, which include mutually agreed targets with customers and commercial models that foster win-win partnerships. Having Metso’s field service experts work alongside the customer’s personnel on-site also enhances their skills and promotes safer working methods.”
The LCS agreements made in 2024 are part of a portfolio of more than 550 long-term LCS agreements globally. The average duration of a contract is three years, but can range from 12 months to multiple years of partnership. The orders are booked on a phased basis, depending on the length and type of the agreement. The specific financial details of the signed agreements are not disclosed. More than two-thirds of the orders were booked in the Minerals segment and the remaining orders were booked in the Aggregates segment.
Metso said: “Life Cycle Services encompass the complete range of Metso’s aftermarket portfolio, from spares and wears to advanced maintenance, remote monitoring and other expert services. We assist customers in enhancing safety and environmental standards, boosting reliability and production for greater resource efficiency and optimising the overall cost of ownership. Metso has been offering innovative Life Cycle Services for over 15 years.”
