Metso Corp. Stock Exchange Release June 7, 2004 at 10.15 a.m.
THYSSENKRUPP AUTOMOTIVE WILL DIVEST THE SHARES OF METSO'S VALMET
ThyssenKrupp Automotive AG has informed Metso Corporation that it will
not acquire the shares of Valmet Automotive, but will also give up its
10 percent minority shareholding in the car manufacturer. The parties
have agreed that Metso, in accordance with the original agreement,
will reacquire ThyssenKrupp's shares in Valmet Automotive in a point
of time to be decided later. According to the reacquisition conditions
of the minority ownership, Metso will reverse EUR 5 million of the
originally booked approximately EUR 10 million gain from the 2001 sale
of the 10 percent stake during the second quarter 2004.
Valmet Automotive will continue as an independent supplier of car
industry contract manufacturing in cooperation with European partners
in the field. It will cooperate also in the future with ThyssenKrupp
Automotive, which is an important systems supplier for car industry.
Valmet Automotive, a part of Metso Corporation, is specialized in the
contract manufacturing and development of demanding specialty cars.
Valmet Automotive will continue its work to search for manufacturing
agreements for new car models. According to its strategy, Metso will
continue to try to find cooperation or partnership arrangements for
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. Metso has approximately 26,000
employees in 50 countries. Metso Corporation is listed on the Helsinki
and New York Stock Exchanges.
For further information please contact:
Olli Vaartimo, Executive Vice President, Metso Corporation, tel. +358
204 84 3010
Eeva Mäkelä, Manager, Investor Relations, Metso Corporation, tel. +358
204 84 3253
It should be noted that certain statements herein which are not
historical facts, including, without limitation, those regarding
expectations for general economic development and the market
situation, expectations for customer industry profitability and
investment willingness, expectations for company growth, development
and profitability and the realization of synergy benefits and cost
savings, and statements preceded by "expects", "estimates",
"forecasts" or similar expressions, are forward-looking statements.
These statements are based on current decisions and plans and
currently known factors. They involve risks and uncertainties which
may cause the actual results to materially differ from the results
currently expected by the company.
Such factors include, but are not limited to:
(1) general economic conditions, including fluctuations in exchange
rates and interest levels which influence the operating environment
and profitability of customers and thereby the orders received by the
company and their margins, (2) the competitive situation, especially
significant technological solutions developed by competitors
(3) the company's own operating conditions, such as the success of
production, product development and project management and their
continuous development and improvement, (4) the success of pending and
future acquisitions and restructuring.
Olli Vaartimo Helena Aatinen
Executive Vice President and CFO 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.