Stock Exchange release January 4, 2005 09:03:15 AM CET
Metso's Reedrill sale has been closed
Following the necessary authorities processes Metso Corporation has finalized the divestment of its rock drilling equipment business, Reedrill, to Terex Corporation. Reedrill was transferred to the buyer on December 31, 2004. The divestment value, which will be based on the net asset value at closing, will be approximately EUR 28 million. The divestment will give Metso a slight gain.
Reedrill became part of Metso Corporation in 2001 as a result of the Svedala acquisition. The business had only limited strategic connections with other Metso Minerals' businesses.
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 23,000 employees in over 50 countries. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.