Stock Exchange release January 13, 2003 12:04:02 PM CET
METSO TO SELL ITS HYDRAULICS UNIT TO SAMPO-ROSENLEW IN FINLAND
Metso Corporation has signed a contract to sell its hydraulic power transmission unit, Metso Hydraulics Oy, to Finnish Sampo-Rosenlew Oy. It is estimated that the sale will be closed in January 2003. The divestment price will not be disclosed. Metso is focusing on services and processes for pulp and paper industry and rock and minerals crushing and related automation, and will divest its non-core operations. Metso Hydraulics is a part of Metso Ventures business area.
Metso Hydraulics Oy has specialized in designing, manufacturing and marketing of hydraulic motors for the manufacturers of mobile agriculture, forest logging and road construction machines. Annual net sales of Metso Hydraulics, located near Jyväskylä, Finland, totals approximately EUR 18 million and the amount of the personnel amounts to 120 persons.
Sampo-Rosenlew Oy is a Finnish manufacturer of combine harvesters, forest machines, industrial cleaners and steel components. Sampo-Rosenlew has production in Finland and sales units in Europe. Annual net sales of Sampo-Rosenlew Oy is EUR 44 million. The amount of personnel is approximately 330.
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.