Stock Exchange release June 10, 2002 03:01:00 PM CET
METSO SELLS AN ENGINEERING WORKSHOP IN THE U.S.
Metso Minerals, the rock and mineral processing business area of Metso Corporation, has sold a U.S. engineering workshop in Cedar Rapids, Iowa, to the operating management effective from June 10, 2002. The factory came into Metso's possession in September 2001 through the acquisition of Svedala Industri AB from Sweden. The divestment is part of Metso's post-acquisition integration measures in North America. The sales price will not be disclosed.
Cedar Rapids engineering workshop has manufactured mainly crushers, metal recycling and bulk material handling equipment and spare parts. Some of the workshop's operations have already been moved to other Metso Minerals U.S. units. The divestment affects 35 employees.
A metal recycling equipment sales, service and design office for the U.S. markets continues to be located in Cedar Rapids. The office employs eight Metso Minerals persons.
Metso Corporation is a global supplier of process industry machinery and systems, as well as know-how and aftermarket services. The Corporation's core businesses are fiber and paper technology (Metso Paper), rock and mineral processing (Metso Minerals) and automation and control technology (Metso Automation). In 2001, the net sales of Metso Corporation were EUR 4.3 billion and the personnel totaled approximately 30,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.