Production will be ramped down by the end of the first half of 2021, with the closure impacting 65 employees, said the company.

"We are continuously developing our global supply footprint to ensure sustainable and profitable growth. To close a factory is a hard but necessary decision, and we realize that it will have implications on our employees. We will work to support them through the transition," says Sami Takaluoma, President, Consumables business area at Metso Outotec.

The North Bay unit produces rubber and poly-met wear parts used in the mining industry - the company currently operates 11 factories manufacturing synthetic solutions globally.

Metso opened a new consumables manufacturing plant in Lithuania in March, following the closure of a facility in Sweden last year.

Takaluoma said at the time that the company had identified Lithuania as "an attractive location for a new manufacturing hub.

Metso Outotec also reported plans this week to divest its recycling business which sells products and services for metal and waste recycling. Its sales in 2019 were €156 million (US$184 million), and it reported an adjusted EBITDA marging of approximately 6%.

"We have made a strategic decision to exit the Recycling business. We have concluded that even though the circular economy and other market drivers offer attractive opportunities for developing the Recycling business, it has limited synergies with the core of the new Metso Outotec, " said chief executive Pekka Vauramo.