Stock Exchange release February 2, 2004 07:31:20 AM CET
METSO'S CONVERTING GROUP SALE HAS BEEN CLOSED
Following the approval of the competition authorities Metso has finalized the divestment of its Converting group to Swiss Bobst Group. Converting group was transferred to the buyer on January 30, 2004. Metso and Bobst Group reached an agreement of the sale in October 2003. The final price was approximately EUR 75 million.
The divestment is a part of Metso's strategy to focus on its core businesses serving pulp and paper industry, rock and minerals processing and process automation customers.
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.