HELSINKI, Finland, July 11, 2002 (PRIMEZONE) -- Metso Corporation (NYSE:MX) will sell the assets of its construction equipment distribution company, Oy Rolac Ab, in Finland, to Swedish Bilia AB. The 2001 net sales of Rolac were approx. EUR 50 million. With the divestment, some 90 employees will be transferred to Bilia as old employees. The acquisition price is not disclosed.
The transaction will require an approval from the Finnish competition authorities. The business is planned to be incorporated in the Bilia Group as of August 31, 2002.
Oy Rolac Ab imports, markets and provides after-sales service for construction equipment in Finland. Its primary agencies include Dynapac paving and compaction equipment, which are manufactured by Metso Minerals, and Volvo construction equipment. Approximately 85 percent of Rolac's net sales comes from Volvo products. In the divestment, the dealership of these products in Finland will be transferred to Bilia.
Rolac was previously the Finnish subsidiary of Svedala Industri AB, and became a part of Metso Minerals when Metso acquired Svedala in September 2001. The divestment is a part of Metso Minerals' integration process.
The Bilia Group is active in the service business, selling and servicing cars, trucks and construction equipment in 14 European countries. In 2001 the net turnover amounted to EUR 1.9 billion with approximately 5,400 employees. Bilia AB is listed on the Stockholm Stock Exchange.
Metso Corporation is a global supplier of process industry machinery and systems, as well as know-how and after-market and services. The corporation's core businesses are fiber and paper technology (Metso Paper), rock and mineral processing (Metso Minerals) and automation and control technology (Metso Automation). In 2001, the net sales of Metso Corporation were EUR 4.3 billion and the personnel totaled approximately 30,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.