Metso acquires Mitsubishi Heavy Industries' paper machinery technology

JYVASKYLA, Finland, Feb. 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.