Stock Exchange release February 7, 2003 10:09:03 AM CET
METSO CLOSES THE SALE OF SCADA NETWORK MANAGEMENT SOLUTIONS TO TELVENT
Metso Corporation has closed the sale of Network Management Solutions companies (NMS) to Telvent of Spain on February 5, 2003. NMS provides SCADA and information management solutions.
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.
The 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.
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 2002, the net sales of Metso Corporation were EUR 4.7 billion and the personnel totaled approximately 28,500. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.