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. Following presentation to the FTC of the proposed remedy package sales to Sandvik and Outokumpu, Metso has now received from the FTC its draft consent decree. The FTC has not raised any concerns about the identity of the proposed buyers but certain issues related to the agreements will require further negotiation with the FTC. As the negotiation of the terms of the consent may take some weeks, Metso is not currently in a position to communicate further regarding the completion of the offer. Metso has as a result decided to extend the offer until July 25, 2001 and intends to make a further communication on or before July 20, 2001.
Metso remains committed to its conditional offer as now extended to July 25, 2001. With the exception of the extension, 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.