Stock Exchange release October 6, 2004 03:01:30 PM CET
Metso and Albany International reach new business accord
Metso Paper and Albany International Corp. have agreed to expand the scope of their cooperation in specified areas of paper and board making processes and paper machine clothing on a non-exclusive basis. The companies have been engaged in a technological cooperation for several years and entered into a commercial agreement in 2000. The current agreement replaces the previous agreements.
Sale of new paper machines, rebuilds and services to existing machines can now include the supply of paper machine clothing and process belts as well as the support of both the Metso and Albany application and service teams. By expanding the scope of the business Metso Paper and Albany International expect to further take advantage of the complementary aspects of the business and technologies for the two companies.
Albany International is the world's largest producer of paper machine clothing and high performance doors with manufacturing plants in 15 countries and worldwide sales network. In 2003, the net sales of Albany International were USD 869 million.
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 2003, the net sales of Metso Corporation were EUR 4.3 billion. Metso has approximately 26,000 employees in more than 50 countries. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.