Metso Corporation's automation and control technology business area, Neles Automation, has sold its 51 per cent holding in Oy Valmet Fisher-Rosemount Ab to this company's other shareholder, Rosemount Inc. to clarify its distribution network in Finland. The selling price will not be disclosed.
Valmet Fisher-Rosemount is a sales company specialized in field instrumentation for the process industry automation. The company was founded in 1990. In Finland, Valmet Fisher-Rosemount has sold Neles Automation's measurement devices and the process industry field equipment of Fisher-Rosemount and Satron Instruments Oy, a manufacturer of measurement devices. In 1999, the net sales of Valmet Fisher-Rosemount was approximately EUR 14 million.
Metso's automation and control technology business area, Neles Automation develops and supplies process automation and flow control solutions for the pulp and paper, refining, petrochemical, chemical and energy industries. In 1999, the business area had net sales of EUR 599 million and 4,350 employees.
Metso Corporation is a global supplier of process industry machinery and systems. In addition to automation and control technology, Metso's business areas are fiber and paper technology and machinery. The net sales of Metso Corporation was EUR 3.4 billion in 1999 and personnel totaled approximately 23,000. Metso Corporation is listed on the Helsinki Exchanges and New York Stock Exchange.