As a part of Metso Paper's program to renew its business concept and to streamline its cost structure, which was launched in June 2004, Metso Paper has reviewed alternatives for its Karhula, Finland, production unit.
Based on this, Metso Paper has today concluded an agreement to sell its production operations in Karhula to Mesera Works Oy. According to the agreement, 105 workers will transfer as existing employees to Mesera Works on January 1, 2005. Additionally, a letter of intent concerning the sale of the land area and the buildings in Karhula to a company called Kiinteistö Oy Karhulan Levyhalli has been concluded today. The parties have agreed not to disclose the transaction prices. The transactions will not have a material effect on Metso's 2004 fourth quarter results.
In addition, Metso Paper has today concluded an agreement with Etteplan Oyj, according to which six Karhula employees involved in the mechanical development of headboxes will transfer to Etteplan as existing employees.
Metso Paper will continue in Karhula with operations relating to paper machine renewals and process improvements.
Mesera Yhtiöt Oy is a Finnish contract manufacturer for metal industry machine and equipment suppliers. Its net sales are approximately EUR 40 million, and it employs approximately 330 people.
Etteplan Corporation is one of the leading Finnish companies in high-quality industrial design and expert services. Its net sales in 2003 were EUR 50.7 million, and it employed approximately 1,000 people.
Metso Corporation is a global supplier of process industry machinery and systems, as well as know-how and aftermarket services. The Corporation's core businesses are fiber and paper technology (Metso Paper), rock and mineral processing (Metso Minerals) and automation and control technology (Metso Automation). In 2003, the net sales of Metso Corporation were EUR 4.3 billion. Metso has approximately 23,000 employees in over 50 countries. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.