METSO EXTENDS ITS OFFER FOR SVEDALA
In relation to Metso Corporation's application for clearance of its public offer for Svedala Industri AB, the Federal Trade Commission in the US has requested additional information.
Metso's application for clearance with the EU commission is under consideration. However, Metso expects a decision by the EU Commission on 20 September to extend its review procedure into a second phase.
As a result of the Federal Trade Commission's request for addition information and the expected extension by the EU Commission, Metso has decided to extend the acceptance period for its public offer for Svedala Industri AB until 30 November 2000. Metso expects to be able to address any competition concerns raised by either authority. Metso may decide on a further extension of the acceptance period should it be required.
With the exception of the extension of the acceptance period, the terms of the offer by Metso to the shareholders in Svedala Industri AB, announced on 21 June 2000, are unchanged (offer document dated 7 July 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. In 1999, the net sales of Metso Corporation were EUR 3.4 billion, and the personnel totaled approximately 23,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.