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Metso has agreed to divest its German panelboard press business and to form strategic cooperation with Siempelkamp

Metso has agreed to divest Metso Panelboard GmbH, a Hannover, Germany-based supplier of continuous press and energy plants for the panelboard industry, to G. Siempelkamp GmbH & Co. KG of Germany. In connection with the divestment, the parties have agreed to pursue cooperation where Metso’s front-end, forming and panelhandling technologies will in line sales be combined with Siempelkamp’s continuous press technology.

The parties have agreed not to disclose the transaction value. The transaction is estimated to be closed by the end of September 2007. Metso Panelboard GmbH employs approximately 65 people, who will transfer to Siempelkamp.

Metso Panelboard is a business line within the Metso Paper business area. Following the divestment, Metso Panelboard will remain a major supplier to the global wood-based panels industry, with focus on supplying, through its own sales and service organization, process units and solutions. They include MDF front ends including Defibrator systems, particleboard screening and forming solutions based on ClassiCleaner and ClassiFormer technologies, and panelhandling including Lukki intermediate storage systems. Raw-material cleaning and dry-glue blending solutions as well as single- and multi-opening press technology will also remain Metso's property, and will be actively offered to the special product markets like small-capacity particle board lines, doorskin process, etc. Metso's aftermarket business will be further developed.

By the date of transfer, Metso Panelboard will discontinue to offer its own continuous presses, energy plants and related aftermarket services to the wood-based panels market. The offering of aftermarket services and modernizations to Küsters and Metso continuous presses and energy plants will be continued by Siempelkamp.

Siempelkamp Group is a Germany-based, international supplier of hydraulic presses, press lines and related services to the woodworking, rubber and metal forming industries. The Group is also a supplier of nuclear technology and foundry products. Its net sales in 2006 were EUR 412 million and it employs over 2,000 people.

For additional information, please contact: Paul-Erik Toivo, Sr. VP, Marketing and Sales Development, Metso Panelboard tel. +358 40 821 3737, e-mail: [email protected]