HELSINKI, Finland, Sept. 28, 2006 (PRIMEZONE) -- Metso Ventures business area will be dismantled as of January 1, 2007. Two of the three foundries currently under Metso Ventures will be transferred under Metso Paper and one under Metso Minerals as separate profit units. Metso Panelboard will become a Metso Paper profit unit. The expansion of Metso Powdermet's sphere of operations into a materials technology RTD unit is being investigated. Valmet Automotive will be reported as a separate financial holding unit. Vesa Kainu, President of Metso Ventures, will retire on February 28, 2007.
Metso is a global engineering and technology corporation with 2005 net sales of approximately EUR 4.2 billion. Its 22,000 employees in more than 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries.