Metso Paper has signed a Letter of Intent with Ecco Development Limited to
supply a PM1 newsprint line for Ecco Newsprint's new recycled newsprint mill in
Teesside, England. The new mill is planned to be started up in the first quarter
of 2009. The Letter of Intent includes an order to start the engineering work.
The value of the complete order will be disclosed when the purchase agreement
has been signed.
The project is subject to Ecco's execution of a number of related agreements for
the financing, construction and operation of the mill, which are well advanced,
and which Ecco will be announce in the near future. Ecco has already been
granted planning consent by Redcar and Cleveland Borough Council permitting
construction to start at Ecco's site at Wilton International on Teesside.
Ecco Development Limited, U.K. is a company founded 2004 by Ramsay Hampton,
experienced paper industry entrepreneur, to develop, construct and operate
recycled newsprint mill in UK.
Metso is a global engineering and technology corporation with 2006 net sales of
approximately EUR 5 billion. Its 25,500 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.
www.metso.com
For further information, please contact:
Risto Hautamäki, Senior Vice President, Key Customers, Metso Paper, tel. +358 20
484 3101
Johanna Sintonen, Vice President, Investor Relations, Metso Corporation, tel.
+358 20 484 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.
Metso Corporation
Olli Vaartimo Kati Renvall
Executive Vice President and CFO Vice President,
Corporate Communications
distribution:
Helsinki Stock Exchange
Media
www.metso.com