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Metso to Divest its German Panelboard Press Business and Form Cooperation Arrangement With Siempelkamp
Helsinki, Finland, 26 July 2007 -- Metso has agreed to divest Metso Panelboard GmbH, a Hannover, Germany-based supplier of continuous press and energy plants for the panelboard industry, to G. Siempelkamp GmbH & Co. KG of Germany.

In connection with the divestment, the parties have agreed to pursue cooperation where Metso’s front-end, forming, and panelhandling technologies will be combined with Siempelkamp’s continuous press technology. The parties have agreed not to disclose the transaction value. The transaction is estimated to be closed by the end of September 2007. Metso Panelboard GmbH employs approximately 65 people, who will transfer to Siempelkamp.

Metso Panelboard is a business line within the Metso Paper business area. Following the divestment, Metso Panelboard will remain a major supplier to the global wood-based panels industry, serving its customers through its own sales and after-market organization. Its product and solutions offering covers MDF front end systems, particleboard screening and forming solutions, panel handling systems, and solutions for raw material cleaning and dry-glue blending. The single- and multi-opening press technology used in special product markets, such as the doorskin production process, will also remain Metso’s property.

Metso-Siempelkamp cooperation and the divestment agreement are part of Metso Panelboard’s ongoing development and restructuring program, which was started in December 2006. The program focuses on enhancing Metso Panelboard’s product portfolio, order-to-delivery capabilites, and the operational efficiency of the business.

Siempelkamp Group is a family-owned international supplier of hydraulic presses, press lines, and related services to the woodworking, rubber, and metal forming industries. The Group is also a supplier of nuclear technology and foundry products. Its net sales in 2006 were EUR 412 million and it employs more than 2000 people.

Metso is a global engineering and technology corporation with 2006 net sales of approximately EUR 5 billion. Its 26,000 employees in more than 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry, and selected other industries.


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