HELSINKI, FINLAND--(Marketwire - May 31, 2012) - Metso and Wärtsilä have agreed
that Wärtsilä's holding in their MW Power joint
venture will be acquired by Metso. Metso currently owns 60 percent and
40 percent of MW Power. The arrangement is subject to permission from the
competition authorities. The owners estimate completion by the end of July
2012. The value of the agreement will not be disclosed.
Founded in 2009, MW Power has been part of Metso's corporate structure. "In
future, Metso will develop MW Power's business as part of its comprehensive
power generation solutions offering for the international market," says
Holmala, President of Metso's Power business line.
MW Power supplies small- and medium-sized heat and power plants for
market, and focuses on renewable fuel solutions. Its main customers are
municipalities, process industries and utilities. The company has a total
250 employees in Finland, Scandinavia, the Baltic area and Russia.
Metso's pulp, paper and power professionals specialize in processes,
equipment, services, paper machine clothing and filter fabrics. Our
experience cover the entire process life cycle including new production
rebuilds and services.
www.metso.com/pulpandpaper , www.metso.com/power ,
Metso is a global supplier of technology and services to customers in the
process industries, including mining, construction, pulp and paper, power,
oil and gas. Our 30,000 professionals based in over 50 countries deliver
sustainability and profitability to customers worldwide. Expect results.
www.metso.com , www.twitter.com/metsogroup
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Source: Metso Corporation via Thomson Reuters ONE