Metso Paper plans to reduce its personnel in the Nordic countries by 300 people

Published May 27, 2003 16.03.00 +2 GMT

Metso Corporation's fiber and paper technology business area, Metso Paper, plans to improve its operational efficiency by reducing the number of its personnel in Finland and Sweden by approximately 300 people by the end of 2003.

The personnel reduction is related to the renewal of Metso Paper's operating model, targeting at a clear improvement in operational efficiency and profitability in the current market situation. The focus of Metso Paper's operations will be transferred to new, growing market areas and closer to the customers by strengthening resources especially in China and South America. The new focus will result in changes in the organizational structure in the Nordic countries and in North America.

Negotiations with the personnel in the various locations in Finland and Sweden will be started during the coming weeks. In Finland, mainly Metso Paper units in Järvenpää, Jyväskylä, Turku, Karhula, Valkeakoski and Pori will be subject to the reductions. In Sweden, the negotiations will start in Karlstad and Sundsvall.

It is estimated that the majority of the personnel reductions will be completed by the end of 2003 or early 2004.

Metso Corporation is a global supplier of process industry machinery and systems. The Corporation's fiber and paper technology business area, Metso Paper, is the world's leading supplier of technology, systems and equipment for the pulp and paper industries. Metso's other core businesses are divided between Metso Minerals (rock and mineral processing) and Metso Automation (automation and control technology). In 2002, the net sales of Metso Corporation were EUR 4.7 billion and the personnel totaled approximately 28,500. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.

More information: Bertel Karlstedt, President & CEO Metso Paper, tel. +358 20 482 5102 Hilkka Alatalo-Korpi, Senior Vice President, HR Metso Paper, tel. +358 20 482 5500