HELSINKI, Finland, Nov. 23, 2006 (PRIMEZONE) -- Metso has signed an agreement to sell the shares of Metso Powdermet AB in Sweden to Sandvik AB. The deal is expected to be closed by the end of 2006. The parties have agreed not to disclose the transaction price.
Metso Powdermet AB, based in Surahammar, Sweden, is a leading supplier of powder metallurgy hot isostatic pressing (HIP) products and components. It provides materials technology solutions mainly for offshore, general engineering and energy industry customers. Metso Powdermet AB's net sales in 2006 are estimated to be approximately EUR 10 million, and the company employs 13 people.
The divestment is in line with Metso's strategy to focus on its core businesses.
Metso Powdermet Oy in Finland will remain in Metso Corporation. Its sphere of operations will be expanded into a materials technology RTD unit serving both Metso's businesses and external customers.
Metso is a global engineering and technology corporation with 2005 net sales of approximately EUR 4.2 billion. Its 22,000 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. www.metso.com
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