Sunds Defibrator acquires Kvaerner Panel Systems

Published Aug 20, 1999 00.00.00 +2 GMT

Sunds Defibrator, Sweden, has signed a Letter of Intent with Kvaerner Panel Systems GmbH, Germany, covering the acquisition of the company’s technology, machine program and know-how, as well as its Belgian subsidiary, De Mets N.V.

The acquisition is conditional upon the necessary consents and approvals of the Board of Directors of both companies and government authorities. The transaction is scheduled to be completed on October 1, 1999.

As a result of the acquisition, Sunds Defibrator further strengthens its ability to serve the panelboard industry, through adding Kvaerner Panel Systems’ equipment, know-how and experience to its own, especially within the particleboard area.

With this expansion, combined with the acquisition of Küsters Press Division in July this year, Sunds Defibrator confirms its long-term commitment to the panel board industry.

With the recent merger of Sunds Defibrator and Valmet Paper Machinery, forming Valmet, the Fiber and Paper Technology business area within Metso, a world leading supplier of technologies, systems and equipment for the pulp, paper and panelboard industry is formed.

Metso Corporation, which was created through the merger of Valmet and Rauma on July 1, 1999, is specialized in the development and manufacture of process engineering, automation and machinery for industry. Metso comprises three business areas – Fiber and Paper Technology, Automation and Flow Control, and Machinery. In 1998, the combined net sales of Metso amounted to approx. EUR 3.7 billion (FIM 22 billion). The combined number of employees was 23,000.

Further information: Lennart Ohlsson, President, Panelboard Systems Thore Englund, Vice President,Corporate Communications Tel. +46 60 165 000