Metso to acquire coater and doctor blade business from Pacific/Hoe
Saw&Knife Company in the United S
(Thomson Reuters ONE) - Metso Corporation's press release on August 4, 2009 at 2:00 p.m.local timeMetso and Pacific/Hoe Saw&Knife Company ("Pacific") have entered intoan asset purchase agreement whereby Metso will acquire the coater anddoctor blade business of Pacific International, a division ofPacific, located in Portland, Oregon, the United States. Thetransaction is expected to be finalized and the business transferredduring the third quarter of 2009. The net sales of the purchasedbusiness is less than USD 10 million a year. The parties have agreednot to disclose the transaction value.The acquisition will allow Metso to enter a new services market thatis currently not in its portfolio, namely coater and creping bladesfor the pulp and paper machinery. It will also complement Metso'stechnology offering with ceramic coated blades. As a result, Metsowill become a single source blade consumables provider.Pacific manufactures a complete line of wood products industry andpaper products industry machinery and equipment. Pacific has about150 employees of which 17 are expected to transfer to Metso. Thecompany's main markets are in the USA. www.pacificintnl.comMetso is a global supplier of sustainable technology and services formining, construction, power generation, automation, recycling and thepulp and paper industries. We have about 28,000 employees in morethan 50 countries. www.metso.comFurther information for the press, please contact:Jukka Tiitinen, President, Metso Paper USA, Inc., tel. +1 404 4330937Harri Nikunen, Senior Vice President, Finance, Paper and FiberTechnology, Metso tel. +358 204 84 2251Kari Lindberg, Vice President, Service, Paper business line, NorthAmerica, tel. +1 404 394 5923Further information for investors, please contact:Johanna Henttonen, Vice President, Investor Relations, MetsoCorporation, tel. +358 20 484 3253This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 04.08.2009 - 13:00 Uhr
Sprache: Deutsch
News-ID 4320
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Saw&Knife Company in the United S"
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