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 is still ongoing. Metso has not yet received the final written draft of the terms of the consent decree from the FTC but expects that it will be forthcoming shortly. Following final consideration of these terms by Metso, the consent decree would, if agreed, subsequently be submitted to the Federal Trade Commissioners for approval. This process is expected to take up to three weeks from submission. As a result, Metso has decided to extend the offer until September 7, 2001 and intends to make a further communication on or before September 4, 2001.
Assuming that approval from the FTC is obtained within this time frame, closing and settlement of the offer is expected to begin around September 14, 2001. Further information in relation to completion of the offer will be communicated upon receipt of the FTC approval.
Metso remains committed to its conditional offer as now extended to September 7, 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.