Metso to acquire coater and doctor blade business from Pacific in the US

HELSINKI, Aug. 4, 2009 (Press Release) - Metso and Pacific/Hoe Saw&Knife Company ("Pacific") have entered into an asset purchase agreement whereby Metso will acquire the coater and doctor blade business of Pacific International, a division of Pacific, located in Portland, Oregon, the United States. The transaction is expected to be finalized and the business transferred during the third quarter of 2009. The net sales of the purchased business is less than $10 million a year. The parties have agreed not to disclose the transaction value.

The acquisition will allow Metso to enter a new services market that is currently not in its portfolio, namely coater and creping blades for the pulp and paper machinery. It will also complement Metso's technology offering with ceramic coated blades. As a result, Metso will become a single source blade consumables provider.