Metso Paper Agrees to Sell Certain Business Functions of its Jarvenpaa Unit in Finland
Oct. 30, 2012 (Press Release) - Metso Paper Inc. has today signed a Letter of Intent with Walpella Oy regarding transfer of business and contract manufacturing concerning parts manufacturing, automation manufacturing, internal goods receiving logistics and warehouse functions at its Järvenpää unit in Finland.
The target of the parties is to implement the transfer of business by November 30, 2012.
The value of the deal (a transfer of business) is not disclosed.
The deal will have no significant impact on Metso’s results.
The personnel of the respective operations, 87 persons in all, will transfer to the new employer under their existing employment contracts. Metso’s unit in Järvenpää has a total of over 900 employees.
The deal includes the machinery and equipment for manufacturing. The buyer will continue to operate in Metso’s premises as a contract manufacturer making equipment for Metso.
The sale is part of Metso Paper’s work to develop its production structure in order to improve customer service and competitiveness amid the toughening global competition.
Metso’s pulp, paper and power professionals specialize in processes, machinery, equipment, services, paper machine clothing and filter fabrics. Our offering and experience cover the entire process life cycle including new production lines, rebuilds and services.
SOURCE: Metso Paper Inc.