The process to obtain clearance from the US Federal Trade Commission (FTC) for Metso Corporation's offer for Svedala Industri AB continues. Following the receipt from the FTC of its draft consent decree Metso has continued its discussions with the FTC. There are still some open issues regarding the terms of the consent decree with the FTC and the negotiation has not yet been concluded. As a result, Metso is not in a position at this stage to communicate further regarding the completion of the offer. Metso has therefore decided to extend the offer until August 16, 2001 and intends to make a further communication on or before August 13, 2001.
Metso remains committed to its conditional offer as now extended to August 16, 2001. With the exception of the extension, the terms of the offer by Metso to the shareholders in Svedala Industri AB, announced on June 21, 2000, are unchanged (offer document dated July 7, 2000).
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.