Stock Exchange release March 19, 2003 09:10:55 AM CET
METSO TO SUPPLY A EUR 100 MILLION PAPERMAKING LINE TO CHINA
Metso Paper will supply a complete production line for LWC paper to Jiangxi Chenming Paper Co., Ltd. in China. The new production line will form the core of the new greenfield paper mill to be built in Nanchang in the province of Jiangxi, and scheduled for start-up in the latter half of 2004. The value of the order is approximately EUR 100 million.
In addition to the 8.6 meter-wide paper machine with on-machine coating and calendering, the scope of Metso Paper's delivery will range from stock preparation, fiber recovery and wet end chemical handling to winding and roll handling. The production capacity of the new line will be 1,213 tons per day of high-quality LWC paper. Metso Automation will supply the process automation, control and monitoring systems.
Jiangxi Chenming's order is the third new LWC paper line order Metso has received from China within the past two years. Jiangxi Chenming Paper Co., Ltd. is a part of Shandong Chenming Holdings Ltd., which owns 90% of the company. Shandong is one of China's largest paper producers. Metso Paper has previously supplied three paper machines to Shandong: Shouguang PM1 in 1998, Shouguang PM2 and Wuhan Hanyang PM1 in 2002.
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.