Helsinki, Finland, 04 February 2009 -- The board of directors of Metso Corporation has decided, in accordance with the authorization granted by the annual general meeting on 02 April 2008, to repurchase a maximum of 300,000 of the company's own shares, which corresponds to about 0.2% of all the outstanding shares of Metso. The shares will be repurchased as part of the company’s incentive program announced in October 2008 (Metso Share Ownership Plan 2009-2011), to be used as potential reward payments in accordance with the plan criteria.
The shares will be purchased with the company's distributable funds and thus the repurchases will reduce the company's distributable nonrestricted equity. Shares will be purchased at market price in public trading on the NASDAQ OMX in Helsinki Exchange.
The shares repurchase will start on 12 February 2009, at the earliest, and it will end on 30 March 2009, at the latest.
At the moment, Metso Parent Company holds 60,841 its own shares.
) 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 more than 29,000 employees in more than 50 countries.