Stock Exchange release September 28, 2007 01:00:00 PM CET
Metso closes the divestment of its German press and energy business
Metso has finalized the sale of assets of its press and energy business in Hannover, Germany to Siempelkamp Energy Systems GmbH, a wholly owned subsidiary of Siempelkamp Maschinen- und Anlagenbau GmbH & Co. KG of Germany. The business is transferred to the buyer on September 28, 2007. Metso will book a small gain related to the divestment in the third quarter of 2007.
On the date of the transfer, Metso Panelboard discontinues to offer its own continuous presses, energy plants and related aftermarket services to the wood-based panels market, and the related service and modernization business are taken over by Siempelkamp.
Metso Panelboard continues as a business line within Metso Paper business area. Following the divestment, Metso Panelboard will remain a major supplier to the global wood-based panels industry, with focus on supplying key process units and environmental solutions for MDF and particleboard production through its own sales and service organization.
Metso is a global engineering and technology corporation with 2006 net sales of approximately EUR 5 billion. Its more than 26,000 employees in more than 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries.
For further information, please contact:
Pentti Välimäki, President, Metso Panelboard
Tel. +358 40 500 5009
Executive Vice President and CFO
Vice President, Corporate Communications
Helsinki Stock Exchange
New York Stock Exchange