HELSINKI, Finland, April 1, 2015 (GLOBE NEWSWIRE) -- Metso has today taken a significant step in implementing its strategy by completing the divestment of its Process Automation Systems (PAS) business to Valmet. The enterprise value of the transaction was EUR 340 million, and Metso expects to book a significant capital gain in its second-quarter results. The sale of the PAS business to Valmet was originally announced on January 15, 2015.
The divestment of PAS is part of Metso's strategy under which it will focus on the mining and aggregates industries and on the flow control business.
Metso is the world's leading industrial company in the mining and aggregates industries and in the flow control business. Our knowledge, people and solutions help drive sustainable improvements in performance and profitability in our customers' businesses.
Metso has an uncompromising attitude towards safety. Our products range from mining and construction equipment and systems to industrial valves and controls. Our solutions are delivered and supported by decades of process knowledge and a broad scope of services backed by a global footprint of over 90 service centers, thousands of service employees, and an extensive logistics network.
Metso is listed on the NASDAQ OMX Helsinki, Finland. In 2014, Metso's net sales totaled EUR 3.7 billion. Metso employs approximately 14,000 industry experts in more than 50 countries. Expect results.
Harri Nikunen, CFO, Metso Corporation, tel. +358 20 484 3010
VP, Investor Relations
NASDAQ OMX Helsinki Ltd