Helsinki, Finland, 08 August 2009 -- Metso and Pacific/Hoe Saw&Knife Company have entered into an asset purchase agreement whereby Metso will acquire the coater and doctor blade business of Pacific International, a division of Pacific, located in Portland, Oregon, USA. The transaction is expected to be finalized and the business transferred during the third quarter of 2009. The net sales of the purchased business is less than USD 10 million a year. The parties have agreed not to disclose the transaction value.
The acquisition will allow Metso to enter a new services market that is currently not in its portfolio, namely coater and creping blades for the pulp and paper machinery. It also will complement Metso's technology offering with ceramic coated blades. As a result, Metso will become a single-source blade consumables provider.
Pacific manufactures a complete line of wood products industry and paper products industry machinery and equipment. Pacific has about 150 employees, of which 17 are expected to transfer to Metso. The company's main markets are in the United States. www.pacificintnl.com
) is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling, and the pulp and paper industries. The company has about 28,000 employees in more than 50 countries.