Stock Exchange release December 12, 2001 07:42:41 AM CET

METSO MINERALS TO DIVEST OR CLOSE DOWN NON-CORE BUSINESSES AND OVERLAPPING MANUFACTURING UNITS

Metso Minerals, the rock and mineral processing business area of Metso Corporation, has concluded the first decisions to divest or dismantle non-core business operations and overlapping manufacturing units in order to increase its global manufacturing and operational efficiency following the acquisition of Svedala Industri AB in September 2001. The combined personnel of these operations to be divested or dismantled is approx. 600 and the combined external net sales totaled to approx. EUR 50 million in 2000.

The non-core business units to be divested are Robot Pumps from Holland, a manufacturer of special pumps; Kranlyft, distributor of Japanese mobile cranes operating in Sweden and UK; and Interconsult, Swedish manufacturer of special bodies for container trucks. These units were transferred to Metso Minerals through the acquisition of Svedala. The combined personnel of these operations to be divested is approx. 280 and the combined net sales totaled to EUR 45 million in 2000. Metso Minerals has initiated the process to find buyers for these operations.

Metso Minerals has also taken the first decisions to reorganize its manufacturing capacity in USA. The Minerals Processing business line will divest the Hodge Foundry in Pennsylvania, Thomas Foundry in Alabama and McNally workshop in Kansas. These units have primarily manufactured components for Metso's own operations. The combined personnel of these operations is approx. 230 and net sales totaled to EUR 30 million in 2000.

The Crushing and Screening business line is in process of closing down two manufacturing units to rationalize its manufacturing setup in the USA and to make the operations more competitive. The units are located in Columbia, South Carolina and Middleboro, Massachusetts and they have employed approx. 100 persons together. These units have manufactured stationary and mobile screens. Manufacturing will be transferred to Metso Minerals' manufacturing unit in Gastonia, North Carolina.

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.