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Metso Corporation (NYSE:MX) Metso Corporation Company release on August 4, 2008 at 12.00 p.m.
Metso confirms that it will supply a paper making line to Propapier's greenfield mill in Eisenhüttenstadt, Germany. Originally Propapier's investment was subject to e.g. local authority approvals, and therefore a dissolution clause was included in the agreement published in February. Now that the necessary approvals have been received, the agreements with Propapier have been confirmed and Metso will include the order in their 3rd quarter order backlog. The total value of the order is approximately EUR 200 million.
The new line will produce up to 650,000 tonnes of liner and fluting grades in a basis weight range of 70-130 g/m2. It will come on stream in late 2009.
Metso Paper will supply all the main equipment for the line, and Metso Automation will supply a comprehensive automation and quality management solution. Furthermore, the parties have additionally agreed on a two-year cooperation period for production and quality optimization.
Propapier PM2 GmbH & Co KG is part of Progroup AG, a group of companies offering products and services for the corrugated board-processing industry. Propapier currently produces 320,000 tonnes of testliner and corrugated medium annually with one of the most modern production lines in the world.
Metso is a global engineering and technology corporation with 2007 net sales of over EUR 6 billion. Its over 27,000 employees in approximately 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries. www.metso.com
Further information for the press, please contact: Reima Kerttula, Senior Vice President, Paper and board machines, Metso Paper Tel +358 40 064 8458 Further information for investors, please contact: Johanna Sintonen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253
