Metso Corporation's holding in Valmet Automotive to be reduced as part of internal asset restructuring
Metso Corporation's stock exchange release on December 30, 2013 at 7:00 p.m.
Metso Corporation and Metso Paper Oy have concluded an arrangement under which
an approximately 19.7% stake in Valmet Automotive Oy will be transferred from
Metso Corporation to Metso Paper Oy as of December 31, 2013. As a result,
Metso's holding in Valmet Automotive will drop from its current level of
approximately 61% to approximately 41% and Valmet Automotive will cease to be a
Metso subsidiary. This in turn will mean that Valmet Automotive will no longer
be consolidated as a separate entity in Metso's consolidated financial
statements and will instead be reported as an affiliated company. Metso and
Metso Paper will both treat their holdings in Valmet Automotive as financial
investments in the future.
Metso is a global supplier of technology and services to customers in the
process industries, including mining, construction, pulp and paper, power, and
oil and gas. Our 30,000 professionals based in over 50 countries contribute to
sustainability and deliver profitability to customers worldwide. Metso's shares
are listed on the NASDAQ OMX Helsinki Ltd.
Further information, please contact:
Harri Nikunen, CFO, Metso Corporation, tel +358 20Â 484 3010
VP, Investor Relations
NASDAQ OMX Helsinki Ltd
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Source: Metso Corporation via GlobeNewswire