Finland's Metso Paper to acquire MHI's paper machinery technology

Nordic Business Report, Feb 15, 2008

NORDIC BUSINESS REPORT-15 February 2008-Finland's Metso Paper to acquire MHI's paper machinery technology(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Finnish engineering and technology group Metso Corporation said on Friday (15 February) that its subsidiary Metso Paper and Mitsubishi Heavy Industries (MHI) have reached an agreement under which MHI's paper machinery technology will be transferred to Metso Paper.

MHI will attend to their present order backlog, and Metso Paper will take over the customer service after MHI contractual obligations have been fulfilled.

Metso said that the transaction enhances Metso Paper's services business especially in Japan.

The value of the contract was not be disclosed.

Metso, headquartered in Helsinki, Finland, technology and services to customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries. The group has nearly 27,000 employees in some 50 countries and reported net sales of EUR6bn in 2007. Metso is listed on the OMX Nordic Exchange in Helsinki.

One British pound (GBP) is worth approximately 1.34 euros (EUR).

((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))