Our history

For over 100 years we have focused on making the big difference to our customers. Achieving great things together with them.

Our history at a glance

Metso was created through the merger of Valmet and Rauma in 1999. Valmet at that time was a paper and board machine supplier, while Rauma's operations were focused on fiber technology, rock crushing and flow control solutions. The merger produced an equipment supplier serving the global process industry. Soon after the merger, Metso Corporation started to build its mining offering by acquiring Svedala Industri AB. Following an active acquisition and organic growth strategy, Metso soon became one of the world's leading process industry suppliers.

The year of 2013 marked a special turning point in Metso's history when the decision was made to split the company into two listed, independent entities: Metso Corporation and Valmet Corporation. The latter continues the history of Valmet by serving industries that use bio-based raw materials. Metso focused on intelligent solutions and services for the mining, construction, and oil and gas industries. Metso also continued to provide leading process automation and flow control solutions and services for the pulp, paper and power generation industries as well as other selected industries.

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21st century

Acquisitions and divestments have shaped the corporate structure in 19992001

The roll cover division and services business assets of Beloit, the American paper machine manufacturer, were acquired in 2000 to strengthen Metso's position in the paper machine service and rebuild markets.

A cash offer was made to acquire Svedala Industri AB, a Swedish company manufacturing rock and mineral processing equipment, in the summer of 2000. The deal was closed after the approval of competition authorities in September 2001.

The forest machine manufacturer, Timberjack, was sold in April, 2000, to Deere & Company from the US.

Acquisitions and divestments in 20022006

With the acquisitions carried out during these years, Metso Corporation focused on reinforcing Metso Paper's and Metso Automation's product and service offerings.

Metso's divestments concentrated on non-core businesses. The objective was to streamline the corporate structure, strengthen the balance sheet and improve profitability.

Strengthen global presence through acquisitions, 20072008

In line with the strategy, Metso evaluated mergers and acquisitions to accelerate profitable growth. Metso targeted acquisitions that would have a good strategic fit for the company by establishing a stronger presence in certain markets, strengthening the services business or enhancing its technology offering.

Metso divested certain parts of the panelboard business, which was part of Metso Paper business area. The divestment was in line with Metso Paper's strategy to develop profitability.

Strong foundation for challenging times, 2008

By 2008, Metso had become Finland's ninth largest company. The number of Metso shareholders had increased from 25,000 to 42,000. Metso strengthened its market position and service capacity in growing markets, particularly in India and China. During 2008, expansions to the Ahmedabad foundry and the Bawal factory in India were completed.

Metso acquired the shares of the research company LignoBoost AB from the Swedish STFI-Packforsk AB. The transaction included all the intellectual property rights as well as the LignoBoost brand and the related know-how.

Metso also purchased the Japanese Mitsubishi Heavy Industries' (MHI) paper machinery technology, making Metso the sole owner of Beloit's paper machinery intellectual property globally.

The world shapes us, 2009

In ten years, Metso had evolved into a truly global company with flexible operating models and a services business of over EUR 2 billion. Close to half of Metso's orders received in 2009 came from emerging markets, compared with less than one fifth in 1999.

In 2009, Metso entered into a combination agreement with Tamfelt, one of the world's leading suppliers of technical textile. Subsequently, Metso made a public exchange offer for all of Tamfelt's shares. The acquisition strengthened Metso's services business.

Results by working together, 2010

In August 2010, Matti Kähkönen was appointed as the new President and CEO of Metso Corporation. Previously, Kähkönen had headed Metso's Mining and Construction segment. Kähkönen started in his new position on March 1, 2011.

In November, two investment companies, Pontos Group and Finnish Industry Investment Ltd, invested to Metso's automotive business, gaining a total shareholding of 34% in Valmet Automotive.

Fit for the future, 2011

Despite the global economic uncertainty, Metso's profitability grew steadily in 2011. The services business, with a value of over EUR 3 billion, accounted for about 40% of orders received in 2011.

In August, Metso acquired the mining services business of Copperstate Industrial Services, based in Arizona, USA. The acquired business aimed to strengthen Metso's position as a leading service and technology provider for the mining industry in North America and Mexico.

In August 2011, Metso entered into an agreement with Chinese SAC, Guodian Nanjing Automation to support Metso's strategy in the power automation control systems market in China.

In December, Metso sold its workshop in Valkeakoski, Finland, with all related equipment and screen basket manufacturing.

Our journey continues, 2012

With the services business as the company's top strategic priority in 2012, Metso continued focusing on growing its networks and deepening its understanding of customer processes.

In November, Metso agreed to form a joint venture with China's LiuGong Group to develop the track-mounted crushing business in China. Also in November, Metso acquired 75% of Shaorui Heavy Industries, one of China's leading mid-market crushing and screening equipment producers.

Metso entered new markets with the acquisition of the South Korean valve manufacturer Valstone.

Additionally, Metso consolidated its valve operations in the United States into new premises in Massachusetts and opened a new valve supply and service center in Vadodara, India.

The year of the demerger, 2013

In August 2013, Metso closed the acquisition of the Chinese manganese steel foundry JX. The acquisition improved Metso's ability to supply wear parts to the mining and construction industry in China.

On October 1, 2013, the Extraordinary General Meeting approved the demerger of Metso into two companies. At the start of 2014, Metso Corporation's Mining and Construction business and Automation business formed the new Metso Corporation and Metso's Pulp, Paper and Power business formed a new company named Valmet Corporation.

In December 2013, Metso concluded an arrangement to drop its holding in Valmet Automotive to approximately 41%. This arrangement represented the end of Valmet Automotive as a Metso subsidiary. This meant that Valmet Automotive was no longer to be consolidated as a separate entity in Metso's consolidated financial statements and was instead reported as an affiliated company.

2015

On January 15, 2015, Metso entered into an agreement for the sale of its Process Automation Systems (PAS) business to Valmet. The transaction covers the entire PAS business: automation and information management solutions, analyzers and measurements, and related services. The transaction was completed on April 1, 2015. Read more from our release here.

The divestment is in line with Metso's new strategy announced in July 2014, under which Metso will focus on the product and services businesses for the mining, aggregates, and oil & gas industries. Read more about Metso's strategy here.

1990's

Repola Oy established in 1991  Rauma is born

The name Rauma-Repola became history when Rauma-Repola and the major Finnish forest industry corporation, United Paper Mills Inc., merged on January 1, 1991. The new company, Repola Corporation, was a privately owned company, with operations divided between the forest industry and the metal and engineering industry. The new company's metal and engineering side was concentrated within Repola's new subsidiary, Rauma Corporation.

In June 1995, Rauma was listed on the Helsinki and New York (NYSE) stock exchanges. When Kymmene Corporation and Repola merged in May 1996 to form UPM-Kymmene Corporation, Rauma became a subsidiary of UPM-Kymmene. UPM-Kymmene gradually reduced its holding in Rauma to 34.5% by December 31, 1998.

Valmet reorganizes its business structure in the 1990's

Valmet's operations were reorganized in the 1990's. In May 1992, the majority of Tampella Papertech Oy's share capital was acquired by the corporation. As a consequence, board, tissue and specialty paper machinery business were transferred to the new Valmet-Tampella business group. The Valmet-Tampella group merged with the Paper Machinery unit, forming Paper and Board Machinery in January 1995. The manufacture of tractors was sold to Sisu in April 1994. The sale of Patria Finavitec, a company engaged with the manufacture of aircraft parts and the maintenance of aircraft, was completed by selling 50.1 % of its share capital to the Finnish State in January 1996. The rest was sold to the Finnish State in December 1998.

Valmet is listed on the New York Stock Exchange

Valmet was listed on the New York Stock Exchange (NYSE) in May 1996.

Metso  A new corporation is born on July 1, 1999

On November 17, 1998, the Boards of Rauma and Valmet proposed a merger of Rauma and Valmet. The merger plan, according to which the companies would merge on July 1, 1999 to form a new corporation, was approved by Rauma's and Valmet's extraordinary shareholders' meetings on January 31, 1999. The new company would be called Metso Corporation.

1980's

Up to the very end of the 1980's, most of Finland's exports went to the Soviet Union and the CMEA countries, including a full third of Rauma-Repola's exports. When the Soviet Union vanished as a market area and the markets for the shipbuilding industry dried up at the turn of the decade, Rauma-Repola's metal and engineering industry faced the need for a radical change. The company responded by determinedly developing those businesses that had proven to be competitive.

Valmet, too, streamlined and renewed its operations in the 1980's, and began to focus more on paper machines and related technology. Valmet divested certain businesses, including shipbuilding and the manufacture of rolling stock and elevators. The year of 1986 was the last one for Valmet's Shipyard Group. Valmet sold its shipbuilding industry to Wärtsilä and bought in return Wärtsilä's paper finishing machinery unit with facilities in Järvenpää, just outside Helsinki. This was combined with Valmet's existing paper machine division to form Valmet Paper Machinery Inc., which started on January 1, 1987. For Valmet, the 1980's were characterized by rapid internationalization.

For Rauma-Repola, the 1980's were a period of major corporate acquisitions. The company purchased Neles in Finland and Jamesbury in the USA, merging them in 1988 to form Neles-Jamesbury, which became Neles Controls in 1997.

In 1987, Rauma-Repola bought the leading European crusher manufacturer, Bergaud and its subsidiaries, as well as Nordberg UK. This was followed in 1989 by the acquisition of two other large companies, Nordberg Inc and Timberjack Corporation, both from the US. The Swedish company Sunds Defibrator Industries AB came under Rauma-Repola's ownership in stages between the years of 19881991.

1988  Valmet gains stock exchange listing

Valmet was still under state ownership when it became the first such company to be listed on the Helsinki Stock Exchange in October 1988. A share issue implemented by Valmet in August to September 1988 had already cut Finnish state ownership from 100% to 80%. Another issue in 1994 dropped the state holding still further to 58.6%, with a sale of the state's shares in June 1996, reducing it to the current level of 20%.

1970's

Lokomo Oy, established in 1915 and operating in Tampere, Finland, was taken over by Rauma-Repola in 1970. The acquisition brought with it series-produced machinery, including crushers, excavators, road graders, cranes and forest machines.

1960's

In 1968, Valmet and the Swedish company Saab-Scania AB established a car plant in Uusikaupunki, Finland, where production started in November 1969. The first model made at the plant was the Saab 96. Later, other makes and models, including the Chrysler Talbot, Opel Calibra and Porsche Boxster, were introduced.

In 1992, the Uusikaupunki plant was transferred to Valmet’s sole ownership, changing its name to Valmet Automotive in September 1995.

1950's

The first big merger in Finnish business took place when two important sawmilling and timber companies, Repola-Viipuri Oy and Lahti Oy, merged with Rauma-Raahe Oy.

Initially, the new company, Rauma-Repola, was officially a timber processing company with a focus on the sawmill industry and pulp production. However, the management of Rauma-Repola made a determined effort to expand the basis of the company to include mechanical engineering. Already in the 1950’s, the company’s product range included pulp industry and metallurgical machinery, as well as shipbuilding.

Shipbuilding remained central to Rauma-Repola’s operations until the end of the 1980’s. The company abandoned shipbuilding completely in the early 1990’s.

1940's

Rauma-Raahe Oy was founded in 1942 from the amalgamation of a number of sawmills and timber companies that had grown out of steam sawmills.

In 1946, several metal workshops owned by the Finnish State were merged to form the Valtion Metallitehtaat (the State Metal Works). At the beginning of 1951, the Valtion Metallitehtaat group was renamed Valmet Oy, and the product range expanded over the years to include ships, aircraft, weapons, locomotives, tractors, marine engines, elevators and, of course, paper machines.

Valmet began the manufacture of paper machines at the former Rautpohja artillery works in Jyväskylä in the early 1950’s and delivered its first paper machine in 1953. Valmet became an internationally significant paper machine supplier in the mid-1960’s, when it delivered several machines to the world’s leading paper industry countries.