Metso's Annual General Meeting, March 30, 2011: President and CEO Matti Kähkönen's review
Metso Corporation's stock exchange release on March 30, 2011 at 3:00 p.m. local time
At Metso Corporation's Annual General Meeting starting today at 3:00 pm, President and CEO Matti Kähkönen reports that the development of Metso's operating environment during the early part of the year has continued in line with the company's expectations.
"In conjunction with the publication of the financial statements on February 3, 2011, we estimated that the gradual recovery will continue in most of our customer industries this year. The development of the markets supports this view: the beginning of the year has been favorable for us in terms of new orders", President and CEO states.
"During the first months of 2011 our services business has developed well due to the improving capacity utilization rates of our customers. What is more, our customers have made decisions on some larger projects", Matti Kähkönen comments.
"Uncertainties in the generally favorable outlook are created by e.g. the fragility of economic recovery in developed markets and stronger inflation pressures. On the positive side, demand in emerging markets remains steady, the outlook in the mining industry continues to improve and the demand for services is expected to remain strong in all our businesses."
Matti Kähkönen continues: Already today Metso's position in the markets is strong and our financial situation and strategy are on solid footing. We are well positioned to benefit from the global megatrends. Favorable economic development in emerging markets not only supports the demand for metals, energy and other infrastructure solutions, and paper and board, it also offers us excellent opportunities. Our strong position in services is based on long-term customer relationships and our extensive installed equipment base, and we are continuously developing our services portfolio. Global concern about environmental issues and sustainability creates demand also for our eco-efficient solutions and for the life-cycle services supporting them. So our strategic focus areas offer us excellent growth opportunities also in the future."
Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries. We have about 28,500 employees in more than 50 countries. www.metso.com
Further information for the press, please contact:
Matti Kähkönen, President and CEO, Metso Group, tel. +358 20 484 3000
Further information for investors, please contact:
Johanna Henttonen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253
It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding expectations for general economic development and the market situation, expectations for customer industry profitability and investment willingness, expectations for company growth, development and profitability and the realization of synergy benefits and cost savings, and statements preceded by "expects," "estimates," "forecasts" or similar expressions, are forward-looking statements. These statements are based on current decisions and plans and currently known factors. They involve risks and uncertainties which may cause the actual results to materially differ from the results currently expected by the company.
Such factors include, but are not limited to:
(1) general economic conditions, including fluctuations in exchange rates and interest levels which influence the operating environment and profitability of customers and thereby the orders received by the company and their margins
(2) the competitive situation, especially significant technological solutions developed by competitors
(3) the company's own operating conditions, such as the success of production, product development and project management and their continuous development and improvement
(4) the success of pending and future acquisitions and restructuring.
Vice President, Investor Relations
NASDAQ OMX Helsinki Ltd