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Metso Signs Agreement to Sell Its Hydraulic Motors Manufacturing

18 February 2000

Metso Signs Agreement to Sell Its Hydraulic Motors Manufacturing

    HELSINKI, Finland, Feb. 18 -- Metso Corporation
has signed an agreement to sell the entire share stock
of Valmet Hydraulics Oy, a manufacturer of hydraulic motors, to Denison
International plc. The sale should be completed during the first quarter of
the year. The price has been agreed at 17 million EUR.
    The sale is a step in the realization of Metso's new strategic intent to
concentrate on business areas serving process industries. Valmet Hydraulics
supplies its products mainly for mobile agricultural and forest machines. Its
operations are located in Jyska, Finland where it has 112 employees. The
company had a net sales in 1999 of 17 million EUR.
    Denison International plc designs, manufactures, distributes and services
highly engineered fluid power systems and components. Its main operations are
located in Ohio, USA and in Germany, France and Finland. The net sales of
Denison International totaled 135,5 million USD in 1999 and it had 1000
employees. Denison International is listed on Nasdaq .
    Metso Corporation was created through the merger of Rauma and Valmet
Corporations on July 1, 1999.  Metso's business areas are fiber and paper
technology, automation and control technology, and machinery.  The net sales
of Metso Corporation totaled EUR 3.4 billion in 1999 and it had approximately
23,000 employees.  Metso Corporation is listed on the Helsinki Exchanges and
the New York Stock Exchange.