HELSINKI, Finland, Sept. 10, 2001 (PRIMEZONE) -- Metso Corporation (NYSE:MX) has today decided to complete its offer to the holders of shares and convertible debentures in Svedala Industri AB.
Metso's offer to the shareholders of Svedala has been accepted to such an extent that Metso now controls approximately 99.4% of the share capital of Svedala. All conditions for the offer as stated in the offer document dated July 7, 2000 have now been met and Metso has decided to complete its offer. Settlement for the shares and convertible debentures tendered in the offer will begin on September 14, 2001.
Holders of shares and convertible debentures who have not yet accepted the offer are given the opportunity to tender their shares and convertible debentures until September 28, 2001. Settlement for these shares and convertible debentures will begin around October 5, 2001.
Metso intends to initiate compulsory redemption proceedings for the remaining outstanding minority shares in Svedala. Metso may purchase shares in the market both before and after the initiation of the compulsory redemption proceedings.
Further information will be communicated on Tuesday September 11, 2001.
Metso Corporation is a global supplier of process industry machinery and systems. Metso's core businesses are divided between Metso Paper (fiber and paper technology), Metso Minerals (rock and mineral processing) and Metso Automation (automation and control technology). In 2000, the net sales of Metso Corporation were EUR 3.9 billion, and the personnel totaled approximately 22,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.