HELSINKI, Finland, Nov. 28, 2001 (PRIMEZONE) -- Metso Minerals has decided to invest approximately EUR 15 million in two manufacturing units in China. The new facilities will allow Metso Minerals to serve its customers in China with locally made products and short lead times, which will strengthen its position on the growing Chinese market. The units will together employ about 120 people.
The Tianjin manufacturing unit will be located in the Tianjin Economic and technological Development Area (TEDA) and will focus primarily on manufacturing crushing and screening equipment. Metso Minerals has manufactured crushers for the local market in leased premises in Tianjin since 1998, but the increasing sales volume necessitates expansion into new, wholly owned premises. The new facilities are planned to be fully operational by the end of June 2002. Tianjin is about 200 kilometers southeast of Beijing.
The Wuxing manufacturing unit will focus on compaction and paving equipment, especially rollers and pavers. The manufacturing area of the new factory, which is partly already operational, will cover 4,000 m (squared) and will be in full use by the end of this year. The road construction machines and equipment of the Dynapac product group have been marketed successfully in China for several years already. Wuxing is located between Beijing and Tianjin.
"These investments are based on the fact that the Chinese government has ambitious plans for the development of the transport network. In this respect, the timing of the new manufacturing units is excellent. At the same time, the investments show our commitment to serving local customers in the best possible way. We are also confident that the knowledge and leading edge technology of Metso Minerals will greatly benefit our customers in China when targeting to improve the overall performance and profitability of their operations," said Olli Vaartimo, President of Metso Minerals.
Metso Corporation (NYSE:MX) 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 were approximately EUR 5,400 million (in 2000) and the amount of personnel is approximately 32,000.