METSO’S SALE OF TIMBERJACK COMPLETED
Metso Corporation’s sale of its forest machines group, Timberjack, to Deere & Company has now been completed. The final debt-free price was EUR 664 million. EUR 600 of this was paid on April 28, 2000, in connection with the transfer of Timberjack’s worldwide operations to Deere & Company. Metso received the remaining part of the purchase price today, June 30, 2000.
Metso Corporation is a global supplier of process industry machinery and systems. In addition to fiber and paper technology, Metso's business areas are automation and control technology and machinery. The net sales of Metso Corporation was EUR 3.4 billion in 1999 and personnel totaled approximately 23,000. Metso Corporation is listed on the Helsinki Exchanges and New York Stock Exchange.