Valmet's acquisition of Beloit's Paper Machine Service assets completed

Published May 12, 2000 00.00.00 +2 GMT

The acquisition by Valmet Corporation of the service and aftermarket assets of the American paper machine manufacturer Beloit has been closed. The price has been paid as agreed, on the closing date, May 11, 2000 as the businesses were transferred to Valmet Corporation.

Valmet is the world's leading supplier of technology, systems and equipment for the pulp, paper, converting and panelboard industries. In 1999, Valmet's net sales was EUR 1.7 billion and it had a personnel of 10,600.

For additional information, please contact: Juhani Pakkala, President, Valmet Corporation, tel. +358 204 82 150