Metso Corporation's press release on August 4, 2009 at 2:00 p.m. local time
Metso and Pacific/Hoe Saw&Knife Company ("Pacific") have entered into an asset purchase agreement whereby Metso will acquire the coater and doctor blade business of Pacific International, a division of Pacific, located in Portland, Oregon, the United States. The transaction is expected to be finalized and the business transferred during the third quarter of 2009. The net sales of the purchased business is less than USD 10 million a year. The parties have agreed not to disclose the transaction value.
The acquisition will allow Metso to enter a new services market that is currently not in its portfolio, namely coater and creping blades for the pulp and paper machinery. It will also complement Metso's technology offering with ceramic coated blades. As a result, Metso will become a single source blade consumables provider.
Pacific manufactures a complete line of wood products industry and paper products industry machinery and equipment. Pacific has about 150 employees of which 17 are expected to transfer to Metso. The company's main markets are in the USA. www.pacificintnl.com
Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries. We have about 28,000 employees in more than 50 countries. www.metso.com
Further information for the press, please contact:
Jukka Tiitinen, President, Metso Paper USA, Inc., tel. +1 404 4330937
Harri Nikunen, Senior Vice President, Finance, Paper and Fiber Technology, Metso tel. +358 204 84 2251
Kari Lindberg, Vice President, Service, Paper business line, North America, tel. +1 404 394 5923
Further information for investors, please contact:
Johanna Henttonen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253