SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
[August 31, 2005]
Metso Corporation
(Translation of registrants name into English)
Fabianinkatu 9 A,
PO Box 1220
FIN-00101
Helsinki, Finland
Indicate by check mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F
Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g-32(b):82-
Metso to expand its metal recycling business with a U.S. acquisition
(Helsinki, Finland, August 31, 2005) Metso Corporation (NYSE: MX; OMX: MEO)
Metso Minerals has acquired Texas Shredder, Inc., a supplier of metal shredder products located in
San Antonio, Texas. The sellers are a group of private investors led by Capital Southwest
Corporation, a venture capital investment company. The acquisition price is approximately EUR 13
million.
Texas Shredder is the leading supplier of metal shredder plants and related aftermarket services in
North America. The unaudited net sales of the company for the fiscal year, ending June 30, 2005,
were EUR 46 million. It employs 33 people.
With the acquisition, Metso Minerals strengthens considerably its position in the North American
metal recycling market, which is the largest in the world, processing approximately 70 million tons
of metal scrap annually. Texas Shredder also complements Metsos downstream technology solutions
and aftermarket capabilities. Texas Shredders large installed base comprises over 60 shredder
plants.
The acquired company will be merged with Metso Minerals current metal recycling operations in the
USA to form a new company, Metso Texas Shredder, Inc.
Metsos recycling business has developed favorably since it became a part of Metso Minerals in the
Svedala acquisition in 2001: The net sales have nearly doubled in two years, reaching approximately
EUR 130 million in 2004. Following the acquisition of Texas Shredder, the net sales are expected to
reach EUR 200 million. The positive development is largely due to the global increase in steel
demand.
Metso is a global technology corporation serving customers in the pulp and paper industry,
rock and minerals processing, the energy industry and selected other industries. In 2004, the net
sales of Metso Corporation were approx. EUR 4 billion, and it has some 22,000 employees in more
than 50 countries. Metsos shares are listed on the Helsinki and New York Stock Exchanges.
www.metso.com
For
further information, please contact:
Bertel Langenskiold, President, Metso Minerals, tel. +358 2048
43200 or +358 400 813 860
Heinz Gerdes, President, Recycling Business Line, Metso Minerals,
tel. +49 211 2105 0
Johanna Sintonen, Vice President, Investor Relations, tel. +358
2048 43253
or
USA: Mike Phillips, Senior Vice President, Finance and Administration, Metso USA, Inc., tel. +1 770
246 7237.
It should be noted that certain statements herein which are not historical facts, including,
without limitation, those regarding expectations for general economic development and the market
situation, expectations for customer industry profitability and investment willingness,
expectations for company growth, development and profitability and the realization of synergy
benefits and cost savings, and statements preceded by expects, estimates, forecasts or
similar expressions, are forward-looking statements. These statements are based on current
decisions and plans and currently known factors. They involve risks and uncertainties which may
cause the actual results to materially differ from the results currently expected by the company.
Such factors include, but are not limited to:
(1) |
|
general economic conditions, including fluctuations in exchange rates and interest levels which
influence the operating environment and profitability of customers and thereby the orders received
by the company and their margins |
(2) |
|
the competitive situation, especially significant technological solutions developed by
competitors |
(3) |
|
the companys own operating conditions, such as the success of production, product development
and project management and their continuous development and improvement |
(4) |
|
the success of pending and future acquisitions and restructuring |