Industry Week assessment: Valmet third time among the world’s best managed companies

Published Aug 19, 1999 00.00.00 +2 GMT

The American business magazine Industry Week selected Valmet, nowadays a member of the Metso Corporation, for the third time as one of the world’s best managed companies. The magazine based its assessments on consistent management performance, financial performance and investments for the personnel and the future during last year. Only two companies from Finland made it onto Industry Week’s list of the hundred best managed companies. Valmet received the same recognition from Industry Week also in 1997 and 1998.

The companies assessed were those presented in the Industry Week 1000, a list of the world’s largest publicly held manufacturing companies. The list is compiled by the American company Primark and it was published in June 1999. Industry Week chose the100 best from the list.

The superiority of the companies was this year assessed by four different indicators. In addition to financial performance, special attention was paid to strategy, research and development work as well as investments to prepare for the future challenges in such areas as change, market development, people and society.

Industry Week assessed international companies now for the fourth time. There are only 12 other companies that have appreared on the list three times. This year the 100 best managed companies came from 14 countries, the major part being American. Of Finnish companies two made it onto the list this year, from Sweden one and from Denmark one.

Industry Week magazine is published by Penton Media Inc. (NYSE:PME). The magazine has over 800,000 readers.

Additional information for the press: Valmet Corporation, Senior Vice President, Marketing and Communications, Mr Leo Allo, tel. +358 40 544 9509

Industry Week, Editor-in-Chief John R.Brandt, tel. +1-216-931 9443 or