Metso Obtains EUR 160 Million R&D Loan
Helsinki, Finland, 02 December 2008 -- Metso Corporation and the European Investment Bank (EIB) have signed a EUR 160 million research and development loan agreement. The total loan amount has been subsequently drawn down. This funding is to partly finance Metso’s development and innovations related to environmental products and services and other strategic R&D programs during the years 2008-2012.
The overall loan period is seven years, with semiannual installments starting after three years in 2011.
Metso’s research and development aims at supporting the cost efficiency and sustainability of its customers’ business operations and at improving the overall competitiveness of their products. Metso’s technologies and services provide a unique platform for environmentally sustainable industrial processes with high quality end products. Metso's R&D has increasingly focused on energy efficiency, use of renewable resources, and advanced process control technology.
Metso has more than 900 employees dedicated to R&D work. The company actively manages its intellectual property rights, has approximately 2800 inventions protected by patents, and annually files about 200 new priority patent applications.
Metso (www.metso.com) is a global supplier of sustainable technology and services for mining and construction, power generation, automation, recycling, and the pulp and paper industries. The company has more than 28,000 employees in more than 50 countries.