NEW BOARD APPOINTED FOR VALMET AUTOMOTIVE
The composition of the Board of Directors of Valmet Automotive, part of Metso Corporation, has been changed. Metso's Board of Directors has appointed the following to the Board of Valmet Automotive: Metso's President & CEO Tor Bergman (Chairman), and Metso's Executive Vice President Sakari Tamminen.
ThyssenKrupp Automotive AG, which acquired a ten percent holding in Valmet Automotive in October 2001, has appointed Christian Krutoff, Senior Vice President, Business Development, to the Valmet Automotive Board.
Tapio Kuisma continues as the President and CEO of Valmet Automotive.
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.