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2006-11-23 News Release

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Powder metallurgy components unit sold

The world leader in powder metallurgy components manufactured through hot isostatic pressing has been sold to a materials technology company.

An agreement to sell the shares of Metso Powdermet AB in Sweden has been reached with Sandvik AB by the Finnish Metso Oy Group. The parties have agreed not to disclose the transaction price and the sale is expected to be completed prior to the end of 2006.

Find Information and Suppliers of powder metallurgy.

Metso Powdermet AB is world leading in powder metallurgy components manufactured through so-called hot isostatic pressing (HIP-technology) into near net shape. The company develops and delivers customized components in high-alloyed steels as well as nickel and cobalt based alloys. Customers today are primarily in the offshore and energy sectors. Metso Powdermet posted sales of SEK 90 M during the past fiscal year, with an operating margin of 18%, and have 13 employees. The company has operations in Surahammar, Sweden.

The divestment is in line with Metso's strategy to focus on its core businesses.

Metso Powdermet Oy in Finland will remain in Metso Corporation. Its sphere of operations will be expanded into a materials technology RTD unit serving both Metso's businesses and external customers.

Sandvik Materials Technology's previous operations in the field of powder technology include production of powder-based billets at its plant in Surahammar and high-alloy powder in Wales, UK.

Through acquisition of Metso Powdermet AB, Sandvik Materials Technology will strengthen its position in the strategically important oil and gas, energy and medical-technology segments. Sandvik Materials Technology is a business area within the Sandvik Group and a world-leading manufacturer of advanced alloys and ceramic materials.

"Today, Sandvik Materials Technology has leading-edge expertise in materials technology and powder production. The acquisition provides access to the complementary expertise required to capture a significant position with regard to applications development and component production of powder-based products pressed to near net shape," says Peter Gossas, President of Sandvik Materials Technology.

Find information about Metso Corporation.

Read a recent press release from Snddvik about - Sandvik Mining and Construction announces the acquistion of Implemin, including the company and its production operations located in Santiago, Chile.

Read a recent press release from Metso about - To strengthen its aftermarket business, Metso acquires two companies that provide mechanical services, maintenance and parts in the pulp and paper industry.

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