Stock Exchange release January 22, 2004 02:04:24 PM CET

Metso supplies equipment for iron ore pelletizing plant in China

Metso Minerals will deliver a grate-kiln iron ore pelletizing system to Wuhan Iron and Steel (Group) Corporation's (WISCO) integrated steel facility near the city of Wuhan in China. The grate-kiln system will comprise a section of the company's new iron ore pelletizing plant which will be the largest in China. The value of the order is not disclosed. The plant is scheduled to start in 2005.
The new plant will use a mixture of magnetite and hematite (20/80) iron ore concrentrate feed. Its annual production capacity will be five million tons of high quality iron ore pellets. The pellets will be used as raw material for iron making process in the new blast furnace. In addition to the grate-kiln, the order includes the design, key equipment supply and the start-up support. The plant is a key part of WISCO's aggressive modernization program.
WISCO, part of the Wugang Group, is one of the largest steel producers in China. It produces a variety of carbon steel products.
Metso Minerals units in Danville, PA, USA and Sala, Sweden, will be involved in the project. Inspection services and local project assistance will be provided by Metso Minerals units in China.
 
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 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.