Metso Corporation has today sold the entire share capital of Sako Ltd, a manufacturer of hunting and sports rifles, to the Italian company Beretta Holding as agreed on December. The parties have agreed not to disclose the transaction price.
Sako's annual net sales is approximately FIM 150 million with over 200 employees.
Metso Corporation was created through the merger of Rauma and Valmet Corporation on July 1, 1999. Metso's business areas are fiber and paper technology, automation and control technology and machinery. The pro forma net sales of Metso Corporation was EUR 3.7 billion (FIM 22 billion) in 1998 and personnel totaled approximately 23,000. Metso Corporation is listed on the Helsinki Exchanges and New York Stock Exchange.