Metso Paper received in 2002 an order for a rebuild of an on-line printing and writing supercalandered coated paper line from Papiers Gaspésia in Chandler, Quebec, Canada. The rebuild was expected to be completed in mid 2004. According to the information Metso has received, the project is on hold due to additional financing arrangements. As a result Metso Paper is prepared to make an approximately EUR 10 million reserve in the result for the first quarter of 2004.
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 and the personnel totaled approximately 27,400. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.