Metso reports a growing trend in performance-based maintenance contracts as it continues to establish itself as a reliable provider of customized solutions for mining and aggregates clients. In 2024, the company secured over 100 new Life Cycle Services (LCS) contracts with both global and regional mining companies, as well as large quarries and aggregate contractors.
Customers are increasingly recognizing the value of having performance-based contracts, which offer technical expertise and support on-site. In 2023, Metso secured more than 110 new LCS contracts with global and regional mining companies and sizeable quarries and aggregate contractors.
Metso’s Senior Vice President, Integrated Service Solutions, Miika Tirkkonen, stated that the company made progress in transforming its contract portfolio mix by adding more performance-based agreements in 2024. These agreements, which include mutually agreed targets with customers and commercial models that promote win-win partnerships, saw over 40% growth in 2024. 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 signed in 2024 are part of a portfolio of more than 550 long-term LCS agreements globally, with an average duration of three years. 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’s Life Cycle Services encompass the complete range of its aftermarket portfolio, including spares and wears, advanced maintenance, remote monitoring, and other expert services. The company has been offering innovative Life Cycle Services for over 15 years, assisting customers in enhancing safety and environmental standards, boosting reliability and production for greater resource efficiency, and optimizing the overall cost of ownership.
