Metso's Converting Group sale has been closed
Published Feb 2, 2004 11.00.00 +2 GMT
Following the approval of the competition authorities Metso has finalized the divestment of its Converting group to Swiss Bobst Group. Converting group was transferred to the buyer on January 30, 2004. Metso and Bobst Group reached an agreement of the sale in October 2003. The final price was approximately EUR 75 million.
The divestment is a part of Metso's strategy to focus on its core businesses serving pulp and paper industry, rock and minerals processing and process automation customers.
Metso Corporation is a global supplier of process industry machinery and systems. The Corporation's fiber and paper technology business area, Metso Paper, is the world's leading supplier of technology, systems and equipment for the pulp and paper industries. Metso's other core businesses are divided between Metso Minerals (rock and mineral processing) and Metso Automation (automation and control technology). In 2002, the net sales of Metso Corporation were EUR 4.7 billion and the personnel totaled approximately 28,500. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.
More information: Mikko Siiteri, Senior Vice President, Strategic Development, Metso Paper, tel. +358 400 706 729 Eeva Mäkelä, Investor Relations Manager, Metso Corporation, Tel. +358 204 84 3253