Metso Foundries Jyväskylä concludes personnel negotiations arisen from cease of production on the foundry’s automatic moulding line

Published June 24, 2008 14.00.00 +2 GMT

Metso Foundries Jyväskylä has concluded the personnel negotiations initiated on May 12, 2008. As a result of the negotiations, arisen from cease of production on the foundry’s automatic moulding line, a personnel reduction of 84 persons in total will be carried out.

At the start of the negotiations, the need for reduction was estimated to be 120 – 140 persons. Due to internal arrangements as well as the positive general market situation, the need for personnel reduction was, however, decreased to 84 employees.

The measures will be initiated immediately and their implementation will take approx. 6 – 18 months, depending on the operation and individual cases. The employment terminations will consist of pension arrangements, discontinuation of temporary employments as well as redundancies.

The non-recurring costs caused by the reductions are estimated to be of minor significance to Metso.

Roll and cylinder castings for the paper machine industry are a part of Metso Paper’s core business and their production will continue in Jyväskylä. In addition to these, Metso Foundries produces hand moulded castings also for Metso Minerals and customers in other sectors.

Metso Foundries Jyväskylä Oy employs approximately 320 persons.

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.

For more information, please contact:

Jorma Lusma Senior Vice President, Production, Metso Paper, Paper and Board business line Tel +358 400 466 134

Pasi Mäkinen President, Metso Foundries Jyväskylä Oy Tel. +358 40 747 3358