HELSINKI, Finland, Dec. 30, 2013 (GLOBE NEWSWIRE) -- 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 20 484 3010
VP, Investor Relations
NASDAQ OMX Helsinki Ltd