Published Feb 5, 2004 09.00.00 +2 GMT
Metso Paper, Inc. has bought, in accordance with an earlier-made agreement, 10 percent of Millidyne Oy's shares. The acquisition is part of the development of the life cycle support concept and supports Metso Paper's aim to expand its scope in high-technology materials know-how.
The Service Business Line of Metso Paper has done already for several years research and development co-operation with Millidyne. Based on this long-term co-operation several state-of-the-art paper machine roll cover materials have been developed.
Besides the acquisition, Metso Paper Service has made together with Millidyne Oy a joint investment in materials technology equipment by which Metso Paper can provide its customers' roll products that specifically address the needs of their processes. The opening ceremony for this joint investment was held on 4th of February.
Millidyne Oy is a provider of products and services for optimized, state-of-art surface properties according to customer needs. The company was established in 1997 as a spin-off from Tampere University of Technology and have a strong competence in material technology and solid know-how of material applications in demanding environment.
Metso Corporation is a global supplier of process industry machinery and systems, as well as know-how and aftermarket services. The Corporation's core businesses are fiber and paper technology (Metso Paper), rock and mineral processing (Metso Minerals) and automation and control technology (Metso Automation). In 2003, the net sales of Metso Corporation were EUR 4.3 billion and the personnel totaled approximately 27,400. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.
More information: Jukka Tiitinen, President, Metso Paper, Inc., Service Business Line, tel. +358 40 740 6178 Petri Sorsa, Managing Director, Millidyne Oy, tel. +358 40 503 7896