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Metso signs a Letter of Intent with Walpella Oy

Published 10/30/2012, 12:00 PM EET

Metso Paper Inc. has today signed a Letter of Intent with Walpella Oy regarding transfer of business and contract manufacturing concerning parts manufacturing, automation manufacturing, internal goods receiving logistics and warehouse functions at its Järvenpää unit in Finland. The target of the parties is to implement the transfer of business by November 30, 2012. The value of the deal (a transfer of business) is not disclosed. The deal will have no significant impact on Metso’s results.

The personnel of the respective operations, 87 persons in all, will transfer to the new employer under their existing employment contracts. Metso’s unit in Järvenpää has a total of over 900 employees.

The deal includes the machinery and equipment for manufacturing. The buyer will continue to operate in Metso’s premises as a contract manufacturer making equipment for Metso.

The sale is part of Metso Paper’s work to develop its production structure in order to improve customer service and competitiveness amid the toughening global competition.

Metso’s pulp, paper and power professionals specialize in processes, machinery, equipment, services, paper machine clothing and filter fabrics. Our offering and experience cover the entire process life cycle including new production lines, rebuilds and services. www.metso.com/pulpandpaper, www.metso.com/power, www.twitter.com/MetsoPulpPaper

Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas. Our 30,000 professionals based in over 50 countries deliver sustainability and profitability to customers worldwide. Expect results. www.metso.com, www.twitter.com/metsogroup

For further information, please contact:

Leif Henriksson, Vice President, Järvenpää Production Operations, Metso Paper Inc., tel +358 40 542 2004

Olli Hyvärinen, Vice President, Supply Chain, Metso Paper, Inc., tel. +358 40 547 1988