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Metso Corporation (HEL:MEO1V) Metso Corporation's Company release on October 20, 2008 at 8:30 a.m.
Metso's customer Aracruz has announced that they will temporarily suspend the expansion of its plant in Guaíba in Brazil. In late August Metso told that it had won an order for the main technology for Aracruz's new 1.5-million-tons/yr bleached hardwood kraft (BHK) pulp line, to be built at their Guaíba mill in Rio Grande do Sul, Brazil. The new pulp line was scheduled to start up during the second half of 2010. The order is valued at close to EUR 400 million.
Metso is currently negotiating with Aracruz about the new implementation schedule of the Guaíba project. Metso is continuing work, within the cost frame covered by the down payment received from Aracruz, in order to allow an easy restart of the project.
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: Bertel Langenskiöld, President, Metso Paper, tel. +358 20 484 3200
Further information for investors, please contact: Johanna Sintonen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253 It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding expectations for general economic development and the market situation, expectations for customer industry profitability and investment willingness, expectations for company growth, development and profitability and the realization of synergy benefits and cost savings, and statements preceded by "expects", "estimates", "forecasts" or similar expressions, are forward-looking statements. These statements are based on current decisions and plans and currently known factors. They involve risks and uncertainties which may cause the actual results to materially differ from the results currently expected by the company.
Such factors include, but are not limited to: (1) general economic conditions, including fluctuations in exchange rates and interest levels which influence the operating environment and profitability of customers and thereby the orders received by the company and their margins (2) the competitive situation, especially significant technological solutions developed by competitors (3) the company's own operating conditions, such as the success of production, product development and project management and their continuous development and improvement (4) the success of pending and future acquisitions and restructuring.
Metso Corporation
Olli Vaartimo Executive Vice President and CFO
Kati Renvall Vice President, Corporate Communications
Distribution: NASDAQ OMX Helsinki Ltd Media www.metso.com
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
