HELSINKI, Finland, Dec. 11, 2013 (GLOBE NEWSWIRE) -- Metso Corporation ("Metso") has today submitted an application to NASDAQ OMX Helsinki Ltd (the "Helsinki Stock Exchange") on the listing of the shares in Valmet Corporation ("Valmet") on the official list of the Helsinki Stock Exchange on behalf of Valmet. Trading in Valmet's shares on the official list of the Helsinki Stock Exchange is expected to commence on or about January 2, 2014. The number of shares in Valmet is expected to be 149,864,619.
On October 1, 2013, the Extraordinary General Meeting of Metso decided that Metso will demerge through a partial demerger in such a manner that all of the assets, debts and liabilities relating to Metso's Pulp, Paper and Power businesses will transfer, without liquidation, from Metso to Valmet. Metso's other businesses, including, among others, the Mining and Construction as well as the Automation businesses, will remain with Metso. Metso's shareholders will receive as demerger consideration one (1) share in Valmet for each share in Metso owned. No demerger consideration will be issued in respect of own shares held by Metso. The shares in Valmet will be entered in the book-entry accounts of the shareholders on or about December 31, 2013.
The Finnish demerger prospectus approved by the Finnish Financial Supervisory Authority, together with an unofficial English translation thereof, has been available as of September 23, 2013 on Metso's website www.metso.com/demerger.
The future Valmet Corporation is a leading global developer and supplier of services and technologies for the pulp, paper and energy industries. Our 11,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day.
Valmet's services cover everything from maintenance outsourcing to mill and plant improvements and spare parts. Our strong technology offering includes entire pulp mills, tissue, board and paper production lines, as well as power plants for bio-energy production.
The company has over 200 years of industrial history and will be reborn through the demerger of the pulp, paper and power businesses from Metso Group on 31 December 2013. Valmet's net sales in 2012 were approximately EUR 3 billion. Valmet's objective is to become the global champion in serving its customers.
Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas. Our 30,000 professionals based in over 50 countries contribute to sustainability and deliver profitability to customers worldwide. Metso's shares are listed on the NASDAQ OMX Helsinki Ltd.
Further information, please contact:
Rasmus Oksala, VP, Legal, future Valmet Corporation, tel. +358 20 484 3252
Hanna-Maria Heikkinen, VP, Investor Relations, future Valmet Corporation, tel. +358 40 826 2172
VP, Investor Relations
NASDAQ OMX Helsinki Ltd