::The Center for Paper Business and Industry Studies::

CPBIS News

Metso to Acquire Mitsubishi Heavy Industries' Paper Machinery Technology

Feb 15, 2008 — Prime Newswire

HELSINKI, February 15, 2008 (press release) — Metso Paper and Mitsubishi Heavy Industries (MHI) have reached an agreement under which MHI's paper machinery technology will be transferred to Metso Paper. The value of the contract, which is subject to regulatory approvals, will not be disclosed. The transaction enhances Metso Paper's services business especially in Japan.

The arrangement will ensure continuous technical support for MHI customers. Metso Paper will start serving the customers immediately after the agreement has become effective.

MHI will attend to their present order backlog, and Metso Paper will take over the customer service after MHI contractual obligations have been fulfilled.

Metso is a global engineering and technology corporation with 2007 net sales of approximately EUR 6 billion. Its almost 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.

About CPBIS: The Center for Paper Business and Industry Studies (CPBIS) is an internationally recognized academic research center providing business knowledge of relevance to the global forest products industry. The CPBIS is cosponsored by the Alfred P. Sloan Foundation, the Georgia Institute of Technology (Georgia Tech), and the Paper Industry.