Stock Exchange release December 2, 2008 08:45:00 AM CET
Metso and The European Investment Bank agreed on EUR 160 million R&D loan
Metso Corporation's Company release on December 2, 2008 at 9:45 a.m.
Metso Corporation and the European Investment Bank (EIB) have signed a EUR 160 million research and development loan agreement. The total loan amount has been subsequently drawn down. This funding is to partly finance Metso's development and innovations related to environmental products and services as well as other strategic R&D programs during the years 2008-2012.
Metso's research and development aims at supporting the cost efficiency and sustainability of our customers' business operations as well as at improving the overall competitiveness of their products. Metso's technologies and services provide a unique platform for environmentally sustainable industrial processes with high quality end products. Our R&D focuses increasingly on energy efficiency, use of renewable resources and advanced process control technology.
Metso has over 900 employees dedicated to R&D work. We manage actively our intellectual property rights and have approximately 2,800 inventions protected by patents and over 200 patent applications.
The overall loan period is seven years with semiannual installments starting after three years in 2011.
Metso is a global supplier of sustainable technology and services for mining and construction, power generation, automation, recycling and the pulp and paper industries. We have over 28,000 employees in more than 50 countries. www.metso.com
For further information, please contact:
Pekka Hölttä, Senior Vice President, Corporate Treasurer, Metso, tel. +358 20 484 3195
Johanna Sintonen, Vice President, Investor Relations, Metso, tel. +358 20 484 3253
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