Stock Exchange release August 16, 2000 10:00:00 AM CET


Metso Corporation's fiber and paper technology business area, Valmet, has received an order from Procter & Gamble for two complete tissue machines. The first machine will start up in July 2001, adding 75 000 tons of capacity. The start-up timing for the second machine is still to be determined. The orders are part of the company's USD 350 million expansion in Mehoopany, Pennsylvania.

In January - June of this year the value of new orders received by Valmet almost doubled, to EUR 1,213 million, compared to the first half of last year. A total of seven complete tissue machines were ordered, with a combined total value of USD 180 million. Three of these machines are planned for the United States, three for Europe and one for Latin America. A large number of the seven machines sold feature Through Air Drying (TAD), required for the manufacturing of premium-quality tissue. The machines ordered by Procter & Gamble are included in the January - June 2000 order backlog.

The volume of consumer tissue and towel products has grown by 30% over the past five years. Expansion plans within the world's leading tissue paper manufacturers in the U.S. and Europe are the main reasons for this high activity. However, medium size producers, especially in Europe, have also shown an increasing interest in new high-efficiency technology.

Metso Corporation's Fiber and Paper Technology business area, Valmet, is the world's leading supplier of technology, systems and equipment for the pulp, paper, converting and panelboard industries. In 1999, Valmet's net sales were EUR 1.7 billion and it employed 10,600 persons.

Metso Corporation is a global supplier of process industry machinery and systems. Metso's business areas are Fiber and Paper Technology, Automation and Control Technology, and Machinery. The net sales of Metso Corporation were EUR 3.4 billion in 1999 and the personnel totaled approximately 23,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.

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