Metso Corporation's Board of Directors has decided to evaluate the possible deregistration and delisting of Metso Corporation's shares from the New York Stock Exchange in view of the revisions to the U.S. Securities Exchange Act of 1934 published by the U.S. Securities and Exchange Commission on March 27, 2007, which will take effect in early June 2007. Metso Corporation's Board of Directors will decide on the matter later this year after having completed the evaluation.
Irrespective of the final decision on the matter, Metso intends to continue to develop its business operations in the United States and its strong relationship with American investors. In 2006, Metso's financial reporting systems were fully compliant with the Section 404 of the U.S. Sarbanes-Oxley Act, and the company intends to maintain its high standard of corporate governance, financial reporting and ongoing disclosure for all investors.
Metso is a global engineering and technology corporation with 2006 net sales of approximately EUR 5 billion. Its 25,500 employees in more than 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries.
Further information, please contact:
Olli Vaartimo, Executive Vice President and CFO, Metso Corporation, tel. +358 204 84 3010
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.