Stock Exchange release September 17, 2008 01:00:00 PM CET
Metso acquires paper quality control business from Finnish Fastpap Oy
Metso Corporation's press release on September 17, 2008 at 2 p.m.
Metso acquires from Finnish Fastpap Oy Ab a paper quality control business which comprises the manufacturing and final assembly of the measuring scanners used in Metso's Quality Control Systems (QCS) as well as after sales services.
The transaction is expected to close in the coming weeks. The parties have agreed not to disclose the value of the purchase. Ylöjärvi, Finland based business operations will be integrated into Metso Automation's Process Automation business line.
QCS is an on-line paper web measuring and control system and it is an essential part of paper making quality management. Until now, Fastpap has delivered scanners for Metso's Quality Control Systems. The manufacturing will continue in Ylöjärvi after the acquisition, and the unit's 11 employees will continue working for Metso Automation.
The acquisition of the paper quality control business is a strategic action that makes possible to enhance Metso's QCS systems' total value chain in the future.
Metso is a global engineering and technology corporation with 2007 net sales of over EUR 6 billion. Its over 27,000 employees in approximately 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:
Sakari Ruotsalainen, President, Process Automation Systems, Metso Automation, tel. +358 40 511 6165
Pekka Vänni, Director, Business Development, Process Automation Systems, Metso Automation, tel. +358 40 552 8374