METSO COMPLETES SALE OF REMEDY PACKAGE TO SANDVIK
Metso Corporation's sale to Sandvik AB of the remedy package within crushing and screening activities agreed with the EU Commission and the US Federal Trade Commission (FTC) has been completed. The completion was conditional on the approval by the EU Commission and the FTC of Metso's acquisition of Svedala and of Sandvik as the purchaser of the remedy package. The remedy package was transferred to Sandvik on October 1, 2001.
The remedy package comprises certain parts of Svedala's product ranges of jaw crushers, cone crushers and horizontal shaft impact crushers, and certain Svedala screens, feeders and conveyors as well as Metso's Nordberg primary gyratory product ranges and related aftermarket capabilities.
The manufacturing operations that have been divested are Svedala Arbrå AB and Svedala Mobile Equipment AB in Sweden and the Chauny factory of Svedala S.A. located in France. The divestiture also includes the resources necessary for the distribution and sale of the specific products and services in relevant market areas. In 2000, these businesses had combined net sales of approximately EUR 150 million and the amount of personnel was approximately 900.
Metso Corporation is a global supplier of process industry machinery and systems. Metso's core businesses are divided between Metso Paper (fiber and paper technology), Metso Minerals (rock and mineral processing) and Metso Automation (automation and control technology). In 2000, the net sales of Metso Corporation were EUR 3.9 billion, and the personnel totaled approximately 22,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.
Metso completed its offer for Svedala Industri AB on September 14, 2001. Svedala is a global supplier of products and services for rock and mineral processes. Metso's and Svedala's combined net sales are approximately EUR 5,400 million (in 2000) and the amount of personnel is approximately 32,000.