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Metso to Continue Implementing its Strategy by Selling its Process Automation Systems Business to Valmet - Metso Corporation and Valmet Corporation have entered into an agreement on the sale of Metso's Process Automation Systems (PAS) business to Valmet - Metso.com
Metso to Continue Implementing its Strategy by Selling its Process Automation Systems Business to Valmet

 

PRZOOM - /newswire/ - Helsinki, Finland, 2015/01/15 - Metso Corporation and Valmet Corporation have entered into an agreement on the sale of Metso's Process Automation Systems (PAS) business to Valmet - Metso.com. MEO1V.HE

   
 
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The enterprise value of the transaction is EUR 340 million. The divestment is in line with Metso's new strategy announced in July 2014, under which Metso will focus on the product and services businesses for the mining, aggregates, and oil & gas industries. When announcing its new strategy, Metso also stated its intention of studying alternatives for its Process Automation Systems business.

The PAS business is the market leader in process automation solutions for the pulp, paper and power industries, with an extensive range of offering covering automation and quality control systems, analyzers and measurements and related services. PAS has 1,600 employees in approximately 80 locations around the world. In 2013, PAS generated net sales of around EUR 300 million.

The transaction, which is estimated to be closed by April 1, 2015, is subject to approval by competition authorities. Metso expects to book a significant capital gain after the closing.

"We are very pleased to announce this transaction. It is a logical step and an important milestone in implementing our new strategy. We are happy that we could achieve this strategic milestone in a timely manner, thereby allowing Metso to fully focus on growing its core businesses and also minimizing the period of uncertainty for the PAS business and people," says Matti Kähkönen, President and CEO of Metso.

"Metso will continue developing intelligent solutions for its mining, aggregates and flow control customers. For our pulp, paper and power customers we will remain a trusted partner through our valve solutions," Kähkönen concludes.

Metso (metso.com) is a leading process performance provider, with customers in the mining, oil and gas, and aggregates industries. Metso's cutting-edge services and solutions improve availability and reliability in minerals processing and flow control, providing sustainable process and profit improvements. Metso is listed on the NASDAQ OMX Helsinki, Finland. In 2013, Metso's net sales totaled EUR 3.8 billion. Metso employs approximately 16,000 industry experts in 50 countries. Expect results.

Contacts:
Matti Kähkönen, President and CEO, Metso Corporation, T: +358 20 484 3001
Harri Nikunen - CFO
Juha Rouhiainen - VP, Investor Relations

Distribution: NASDAQ OMX Helsinki Ltd

 
 
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Agency / Source: Metso Corporation

 
 

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Metso to Continue Implementing its Strategy by Selling its Process Automation Systems Business to Valmet

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Metso | Valmet
Contact: Press Office - Metso.com 
+358 20 484 100 metso.info[.]metso.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Metso Corporation securities in any jurisdiction including any other companies listed or named in this release.

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