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Metso initiates reductions of workforce in Sundsvall, Sweden

Metso will start personnel discussions regarding the reduction of 98 persons in Sundsvall, Sweden.

The turmoil in the global economy has led to a changed market environment for the pulp and paper industry, creating a weaker demand for Metso's products and services. The company must therefore adjust its capacity accordingly. Operations need to be downsized and made more flexible to handle changes in the market.

The reductions will commence in the end of 2008. The trade unions and affected members of the staff have today been informed about the planned changes and reduction of workforce. The one-time costs related to these arrangements are not expected to be material for Metso.

As a first measure, Metso is also making significant reductions in the use of external labor.

The Metso units in Sundsvall are part of the company’s Fiber business line and employ approximately 650 persons. They supply machinery and equipment, as well as aftermarket and expert services for chemical and mechanical pulp mills. Altogether Metso employs more than 3,100 people in Sweden.

Metso is a global engineering and technology corporation with 2007 net sales of over EUR 6 billion. Its over 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. www.metso.com

For more information, please contact:

Lars Dahlqvist, President, Metso Paper Sundsvall AB and SVP, Chemical Pulping Unit, tel. +46 70 606 80 90 (in Swedish and English)

Kari Tallqvist, Vice President, Human Resources, Fiber business line, tel. +46 70 557 57 43 (in Finnish, Swedish and English)