Metso is planning to invest approximately EUR 30 million to establish "Metso Park", a multi-functional industrial facility, in India. The new facility will host both Metso's own new operations and selected key suppliers. Metso Park will initially cater to meeting the rapid growth in demand for Metso Minerals' products and services in India. It will also have the capability to serve other Metso business. With the investment, Metso aims to enhance its logistics, inventory control, operational quality and productivity as well as supplier relationships. The implementation of the Metso Park concept is subject to regulatory approvals.
A new operating concept for the company, Metso Park will be located near the city of Alwar in the state of Rajasthan in northwest India and will include office premises, several workshops, warehousing and a logistics center. Partners operating out of Metso Park will establish their own workshops at the Metso site and will benefit from the infrastructure services provided.
Metso Park will initially manufacture mobile screening plants, pumps and rubber products for the construction and mining customers in India. Some products and components will also be exported. Operations at Metso Park are expected to commence in the second half of 2009, and the number of employees at the facility is expected to rise to 700 by 2012.
Late last year, Metso announced a EUR 12.5 million investment in expanding foundry and manufacturing operations and office facilities in India. Metso's net sales in India were approximately EUR 150 million in 2007. The company employs today some 700 people in India.
Metso is a global engineering and technology corporation with 2007 net sales of approximately EUR 6 billion. Its almost 27,000 employees in approximately 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries.
Further information for the press, please contact:
Matti Kähkönen, President, Metso Minerals, tel. +358 20 484 3100
Further information for investors, please contact:
Johanna Sintonen, 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.
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