Metso Corp. Stock Exchange Release October 30, 2003 at 12.00 p.m.
Metso Minerals' goodwill impairment to a large extent tax-deductible
Metso Corporation has today received a decision from The Tax Office
for Major Corporations in Finland regarding the goodwill impairment of
EUR 205 million in Metso Minerals. According to the decision, EUR 175
million of the goodwill impairment has been accepted as tax-
deductible. The corresponding tax benefit of EUR 51 million can be
recognized in the fourth quarter of 2003. The cash flow impact of the
tax-deductibility is estimated to materialize in 2003 and 2004.
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 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.
For additional information, please contact:
Reijo Kostiainen, Senior Vice President, Financial Control, Metso
tel. +358 204 84 3127
Eeva Mäkelä, Manager, Investor Relations, Metso Corporation, tel. +358
204 84 3253
Olli Vaartimo Helena Aatinen
President and CEO Senior Vice President
New York Stock Exchange
Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso employs over 14,000 people in more than 50 countries.