latest news releases from the newsroom
Metso Notice of Annual General Meeting
HELSINKI, Finland, Feb. 8, 2006 (PRIMEZONE) -- The shareholders of Metso Corporation are invited to attend the Annual General Meeting scheduled at 2:00 p.m. on Tuesday, April 4, 2006. The meeting will be held in the Marina Congress Center at Katajanokanlaituri 6, 00160 Helsinki.
Metso to Continue as one Entity to Implement the Profitable Growth Strategy
HELSINKI, Finland, Feb. 8, 2006 (PRIMEZONE) -- Metso's Board of Directors has today decided that the current structure of Metso will be kept intact. The principal reasons for the Board's view are the rapid sales and profitability growth in Metso Minerals and Metso Automation together with good growth opportunities provided by favorable market outlook, as well as the ongoing positive development of Metso Paper including the potential acquisition of Aker Kvaerner's Pulping and Power business announced today. The Board sees that it is important that the management focuses on the execution of the profitable growth strategy launched in August 2005.
Bilia AB’s board of directors has decided to buy back company shares in
accordance with the authorisation that was given at the AGM on 6 April 2005. At
the present time, Bilia owns none of its own shares and is planning to acquire
This buy-back will take place in order to adjust the total number of shares in
Bilia with the aim of creating a uniform exchange relationship prior to the
proposed distribution of Bilia’s real estate company, Catena AB.
The shares will be acquired via
Metso to Acquire Aker Kvaerner's Pulping and Power Business
HELSINKI, Finland, Feb. 8, 2006 (PRIMEZONE) -- Metso and Aker Kvaerner have signed a Letter of Intent whereby Metso intends to acquire all parts of Aker Kvaerner's Pulping and Power business. The acquisition is subject to, among other things, completion of the due diligence process conducted by Metso, and signing of the final sale and purchase agreement. The parties aim to sign the final agreement by mid April 2006. The final closing will require relevant regulatory approvals. The agreed cash and interest-bearing debt free enterprise value is EUR 335 million, which is subject to closing adjustments.
Telenor to Make Offer for All Outstanding Shares in Glocalnet
OSLO, Norway, Feb. 8, 2006 (PRIMEZONE) -- Telenor has increased its shareholding in the Swedish broadband provider Glocalnet, while also issuing an offer for all outstanding shares in the company, for a cash consideration of SEK 4 per share. Glocalnet is one of Sweden's fastest-growing broadband providers, and in 2005 the company accounted for close to 20 percent of the total growth within xDSL in Sweden. The company has its strongest foothold in the low-end segment. Since 2002, Telenor has held a 36.6 percent interest in the company, and has assumed a key role as partner and supplier. Telenor now wants to develop Glocalnet alongside its other commitments in Sweden, and has decided to assume control of the company.