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Metso Paper Closes Paper Technology Deal With MHI

May 27, 2008 - Metso Paper said that it has closed the deal with Mitsubishi Heavy Industries (MHI) over the acquisition of MHI's paper machinery technology.

The purchase price was not disclosed.

The deal, which was announced in mid-February of this year, enhances Metso Paper's services, especially in Asia and Japan, where the company has opened a new office in Onomichi.

Back in 2000, both Metso Paper and MHI purchased rights to the intellectual property of Beloit Corporation's paper machinery technology. Through the new acquisition Metso Paper is now the sole owner of Beloit's paper machinery intellectual property.

SOURCE: Metso Paper




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