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 has moved into its final phase. Metso has now finalized the remedy package sale agreements with Sandvik and Outokumpu and has delivered all the necessary documents relating to these agreements and the purchasers to the FTC for its review.
Due to the continuing discussions with the FTC, Metso is not in a position at this stage to make the previously intended communication regarding the timetable for the closing of the offer. As a result, Metso has decided to extend the offer until July 4, 2001 and intends to make a further communication on or before June 29, 2001.
Metso remains committed to its conditional offer as now extended to July 4, 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.