Metso and Wärtsilä's joint venture cleared by regulatory authorities - name of the joint venture is MW Power Oy

Metso Corporation Company release on November 14, 2008 at 1.30 p.m.

Metso and Wärtsilä have received the necessary regulatory approvals
from the European Commission to close the joint venture combining
Metso's Heat & Power business and Wärtsilä's Biopower business. The
transaction will be closed on January 1, 2009, according to the
agreement between Metso and Wärtsilä.

The name of the joint venture will be MW Power Oy. Jorma Lehtoviita,
currently Vice President, Heat & Power, is appointed Managing
Director. The current Managing Director of Wärtsilä Biopower Oy,
Ilkka Heikkilä, is appointed General Manager, Finance and
Administration."Now that we have received the approvals, we can start integration
planning. The long-term business drivers are positive for us," says
Jorma Lehtoviita, Vice President of Metso's Heat & Power business.

Metso will own 60 % and Wärtsilä 40 % of MW Power Oy. It is estimated
that the consolidated annual pro forma net sales of the company will
be approximately EUR 130 million in 2008. The technologies of the two
companies are complementary. Metso's fluidized bed combustion
technology and Wärtsilä's grate technology enable a solutions
portfolio for a wide range of fuels in power and heating plants.

Metso and Wärtsilä announced in September 2008 that they had signed a
contract to form a joint venture. The company will be one of Europe's
leading providers of medium- and small-scale power and heating plants
with a focus on renewable fuel solutions.

Metso's Heat & Power business consists of Noviter Oy and VEÅ AB, both
subsidiaries of Metso Power. The business unit employs approximately
100 people in Scandinavia, the Baltic countries and Russia. Metso
Power designs and manufactures power generation and chemical recovery
systems for energy producers and the pulp and paper industry
globally.

Wärtsilä Biopower, a part of Wärtsilä Power Plants, supplies and
manufactures biomass-fueled combined heat and power plants and
heating plants. The company employs approximately 100 people in
Finland. Wärtsilä's engine-based power plant business is not affected
by this joint venture and continues to offer a broad range of
fuel-flexible power solutions.

Metso is a global engineering and technology corporation with 2007
net sales of over EUR 6 billion. Its over 27,000 employees in
approximately 50 countries serve customers in the pulp and paper
industry, rock and minerals processing, the energy industry and
selected other industries.
www.metso.com


Further information for the press, please contact:
Jorma Lehtoviita, Vice President, Heat & Power, Metso Corporation,
tel. +358 400 623 079

Further information for investors, please contact:
Johanna Sintonen, Vice President, Investor Relations, Metso
Corporation, tel. +358 20 484 3253

Metso Corporation


Olli Vaartimo
Executive Vice President and CFO


Kati Renvall
Vice President, Corporate Communications

Distribution:
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www.metso.com