METSO WILL PURCHASE REMAINING SVEDALA MANAGEMENT OPTIONS
Metso Corporation has entered into an agreement to purchase options representing 198,500 shares in Svedala Industri AB from a part of the management group in Svedala. The options represent the remaining part of the option program issued by AB Custos to the management of Svedala. The exercise period for these remaining options ends on February 20, 2001 and Metso intends to exercise the options. The purchase price for the options reflects the prevailing market price of the Svedala share with an additional amount based on the offer price payable on completion of the public offer for Svedala's shares.
Metso Corporation announced on June 21, 2000 that is has decided to make a public tender offer for all outstanding shares in Svedala Industri AB at a price of SEK 185 per share. Metso Corporation's offer for Svedala Industri AB has been approved by the EU Commission subject to certain commitments. For the closing of the offer, clearance from the US Federal Trade Commission is also required.
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.