Stock Exchange release November 23, 2000 02:50:25 PM CET


The Board of Directors of Metso Corporation has decided to change the names for the Corporation’s business areas. Valmet, the fiber and paper technology equipment and process supplier, will be renamed Metso Fiber & Paper. Nordberg, the rock and mineral processing group, will be renamed Metso Minerals. Neles Automation, the Corporation’s automation and control technology business area, will become Metso Automation, and Santasalo, the gears and components manufacturer, will be Metso Gears & Components.

"Metso wants these name changes to signal a uniform corporate image. At the same time we want to underline how important the close cooperation between the business areas is to the implementation of the Corporation’s strategy,” says Heikki Hakala, President and CEO of Metso Corporation. "Because of their different names, the business areas have often been perceived as different companies, which has blurred Metso’s overall image. Metso’s business areas were already given a uniform visual identity over a year ago."

Accordingly, all corporate names will be changed to start with Metso. Preparations will begin immediately with the aim of introducing the new corporate names in practice by March 1, 2001. The aim is also to define the use of the above mentioned well-known product names together with Metso name in the products by the same date.

Metso Corporation is a global supplier of process industry machinery and systems. In addition to fiber and paper technology, Metso's business areas are automation and control technology, and machinery. In 1999, the net sales of Metso Corporation were EUR 3.4 billion, and the personnel totaled approximately 23,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.

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