Metso Increases Ownership in Valmet-Xi'an

摘要

Metso has concluded an agreement to increase its ownership in the Chinese joint venture company Valmet-Xi'an Paper Machinery Co. Ltd. from 48.3 per cent to 75 per cent by acquiring all the shares owned by Finnfund, and part of the shares owned by the other joint venture partner, China National Building Material Company Group. The agreement is subject to regulatory approvals and expected to be passed by year-end. As part of the arrangement, the joint venture acquires ownership of the real estate it currently operates at. With this arrangement Metso extends and further strengthens its position as the leading supplier of machinery and technology to the Chinese pulp and paper industry.