METSO EXTENDS ITS OFFER FOR SVEDALA
The process to obtain clearance from the US Federal Trade Commission (FTC) for Metso Corporation's offer for Svedala Industri AB continues to progress. Metso is currently in final negotiations with potential purchasers for the two required divestitures, the remedy package agreed with the EU Commission and Metso's grinding mills business, and believes that these divestiture agreements can be reached in the near future.
In order to allow time for the remaining FTC review process, Metso has decided to extend the acceptance period for its offer to June 21, 2001. Metso believes that an agreement with the FTC can be achieved before this date. Metso plans to make a further communication regarding the timetable for the closing of the offer to the shareholders of Svedala on or before June 18, 2001.
Metso remains committed to its conditional offer of June 21, 2000. 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 June 21, 2000, are unchanged (offer document dated July 7, 2000).
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.