Stock Exchange release January 31, 2003 11:01:59 AM CET
METSO TO SELL ITS SCADA NETWORK MANAGEMENT SOLUTIONS TO TELVENT
Metso Corporation has agreed to sell its Network Management Solutions companies (NMS) to Telvent in Spain. NMS provides SCADA and information management solutions. The divesture is expected to be closed in February 2003. The transaction value is approximately EUR 35 million and it will reduce Metso's gearing by approximately 3 percentage points. Divestiture of NMS is in line with Metso's strategic intent to concentrate on the service, processes and automation solutions for the pulp and paper industry and rock and minerals processing, and consequently divest the non-core business operations.
NMS develops and supplies real-time remote monitoring, control and simulation systems for the oil and gas industry as well as for electricity and water utilities globally. NMS SCADA system has the leading market position in North America for oil and gas pipelines. NMS is a part of Metso Automation business area.
NMS is headquartered in Calgary, Canada. Other operations included in the divestment are located in Houston, Texas and Baltimore, Maryland, USA. These units employ over 400 people and have annual net sales close to EUR 60 million.
Telvent specializes in the development and integration of control and information systems for energy industry, environmental management, transportation sector and public sector. It has been acting as Metso's SCADA systems partner over the past ten years. Telvent is the information technology company of Abengoa Corporation, which was established in 1941 and is listed in the Madrid Stock Exchange. In 2001, the Corporation's net sales were EUR 1,380 million. Abengoa has operations in 38 countries.
Metso Corporation is a global supplier of process industry machinery and systems, as well as know-how and aftermarket and 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.