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 in 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 reorganize 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 to the Corporation. As a consequence, board, tissue and specialty paper machinery business were transferred to the new Valmet-Tampella business group. Valmet-Tampella group was merged with 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 manufacture of aircraft parts and in the maintenance of aircraft, was completed by selling 50.1 per cent 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.
A new corporation - Metso - 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 will be called Metso Corporation.
» Stages of the merger
» Share division
» The name Metso