HELSINKI, Finland, Sept. 20, 2001 (PRIMEZONE) -- The sale of Metso Corporation's (NYSE:MX) grinding mill operations to Outukumpu Mintec Oy has been concluded. The closing of the sale was contingent on the approval by U.S. competition authorities of Metso's Svedala acquisition in its entirety and of Outokumpu Mintec Oy as the purchaser of the grinding mill operations. Approval for these two conditions was received on September 7, 2001, and Metso's grinding mill business will transfer to Outokumpu on September 20, 2001.
The grinding technology sold to Outokumpu Mintec Oy comprises rod and ball mills, semiautogenous (SAG) and autogenous mills. The annual net sales of the business have averaged EUR 25 million and it employs approximately 30 people.
Metso Corporation is a global supplier of process industry machinery and systems. Metso's core businesses are divided between Metso Paper (fiber and paper technology), Metso Minerals (rock and mineral processing) and Metso Automation (automation and control technology). In 2000, the net sales of Metso Corporation were EUR 3.9 billion, and the personnel totaled approximately 22,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.
Metso completed its offer for Svedala Industri AB on September 14, 2001. Svedala is a global supplier of products and services for rock and mineral processes. Metso's and Svedala's combined net sales are approximately EUR 5,400 million (in 2000) and the amount of personnel is 32,000.