Stock Exchange release August 27, 2001 01:00:36 PM CET

METSO TO ESTABLISH NEW TECHNOLOGY CENTER IN OULU

Metso Paper will establish a new Technology Center in Oulu, Finland, in order to concentrate the development and manufacture of composite spreader rolls for fiber and paper making in one location. Composite spreader rolls represent the latest technology in the spreading of the paper web. Demand for such rolls is expected to grow rapidly, especially for fast paper machines.

The Technology Center will employ 30-40 people and will be opened in the winter of 2003. At the same time, the production methods and range of the paper machine roll cover unit located in Oulu will be renewed. The Technology Center will be part of the Metso Future Care concept, the purpose of which is to maintain the competitiveness of customers' processes throughout their whole life cycles.

Through the new Center, operations can be concentrated in one location, which will make it possible not only to utilize synergy benefits, but also to accelerate product development and the process of turning new developments into finished products. The Center will deliver composite spreader rolls for Metso Paper's new machine deliveries and for use as replacement rolls in all machine types. In addition, it will provide a complete spreader roll maintenance service. Metso Paper currently develops and manufactures spreader rolls at Oulu, Nokia and Järvenpää, Finland.

Metso Paper launched its first composite leading rolls in 1994 and spreader rolls in 1998. New composite technology allows the integration of data transfer methods in the roll structures, and the exploitation of remote diagnostics.

The Technology Center will be a part of the Metso Paper Service business group, which employs 3,000 people in 41 service centers around the globe.

Metso Corporation is a global supplier of process industry machinery and systems. The Corporation's fiber and paper technology business area, Metso Paper, is the world's leading supplier of technology, systems and equipment for the pulp, paper, converting and panelboard industries. Metso's other core businesses are divided between 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 is listed on the Helsinki and New York Stock Exchanges.