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Metso to split into two companies

The Metso Corp is planning to transfer all the assets, debts and liabilities of its Pulp, Paper and Power businesses to a newly-formed company that will be named Valmet Corp.

The Metso Corp is planning to transfer all the assets, debts and liabilities of its Pulp, Paper and Power businesses to a newly-formed company that will be named Valmet Corp. Following the proposed demerger, Metso’s current Mining and Construction and

Automation businesses will remain in the current company, which will continue to operate under the Metso name. Valmet will initially have the same ownership structure as Metso and will be totally independent without any cross-ownership between the two companies.

The demerger will require the approval of an Extraordinary General Meeting and the registration of the completion of the demerger with the Finnish Trade Register. If approved, the planned registration date of the completion of the demerger is 31 December 2013.

Metso chairman Jukka Viinanen says: "After carefully reviewing various alternatives, the board has concluded that spinning off Metso’s Pulp, Paper and Power businesses through a demerger offers the best potential to increase the focus and ambition of Valmet and Metso, and the implementation of their respective distinct growth strategies."