HELSINKI, Finland, Sept. 19, 2006 (PRIMEZONE) -- Metso has today signed contracts to acquire business assets of Svensk Gruvteknik AB ("SGT") and Svensk Pappersteknik AB ("SPT") in Sweden to strengthen its aftermarket business. The business group that SGT and SPT belong to is owned by Par-Anders Johansson and Conny Johansson. The business assets will be transferred to Metso on October 1, 2006. The debt-free purchase price is approximately EUR 4 million.
The total net sales of the acquired business in 2005 were EUR 11 million. Svensk Gruvteknik employs some 70 people and Svensk Pappersteknik approximately 40 people.
Svensk Gruvteknik provides maintenance and service parts to mines in northern Sweden. Its biggest customer is New Boliden. The acquired business is based in Gallivare and will be merged with Metso Minerals' Swedish sales company.
Svensk Pappersteknik offers mechanical services and maintenance for the pulp and paper industry in northern Sweden. It has a long-term agreement for mechanical maintenance with Mondi Packaging Paper Dynas in Vaja, which is its main customer. The acquired business will be a part of the Metso-owned Scandinavian Mill Service AB, which provides maintenance operations and development for the pulp and paper industry.
The acquisitions are in line with Metso's strategy of profitable growth and they will complement and further strengthen Metso's position as a life cycle service provider for the pulp and paper industry and the mining industry in Sweden. One of Metso's strategic goals is to increase aftermarket services and strengthen its service network close to customers.
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.