Metso Corporation
PINKSHEETS : MXCYY
HEX : MEO1V

August 03, 2011 05:07 ET

Metso strengthens its power automation position in China by entering into a joint venture

HELSINKI, FINLAND--(Marketwire - Aug 3, 2011) -



Metso Corporation's press release on August 3rd, 2011 at 12:00 a.m. local time

Metso is joining forces with SAC, Guodian Nanjing Automation Co., Ltd (previously State Automation Company), to strengthen its position in the power automation control systems market in China. The new joint venture will concentrate on developing the digital power plant concept focusing especially on the Chinese market.

Metso will own 33 % and SAC will own 67 % of the joint venture. The joint venture will support Metso's target to offer proven, cost-effective power automation control solutions for the Chinese markets. The new company will manufacture and market Metso's maxDNA automation technology and SAC's digital power plant products. Furthermore the joint venture will develop new products and provide comprehensive after-sales services. The joint venture will have over 300 employees in China.

"By joining forces we gain share in the Chinese power market. We have already over 140 power units controlled by our systems in China", comments Metso's Steve Gandy, Vice President Sales and Operations, Energy and Process Systems in Asia.

Metso has provided maxDNA systems to more than 700 power plants worldwide. Metso is one of the eight DCS companies recommended by the former State Power Ministry in China. The new company will start its operations following official approval by the required Chinese authorities.

SAC is a public company owned 58% by Huadian Power International Corporation Limited, one of the five biggest power producing companies in China.

Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries. We have about 29,000 employees in more than 50 countries. www.metso.com

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Metso Corporation via Thomson Reuters ONE

[HUG#1535860]

Contact Information

  • For further information for the press, please contact:

    Sakari Ruotsalainen
    President Process Automation Systems, Automation business line
    Metso
    tel. +358 20 483 8933

    Steve Gandy
    Vice President Sales and Operation, Energy and Process Systems in Asia,
    Automation business line
    Metso
    tel. +1 215 393 4149