HELSINKI, Finland, May 15, 2001 (PRIMEZONE) - Metso Corporation (NYSE:MX).
Metso Automation has acquired the Valvcon Corporation of Milford, NH, USA. Valvcon is a leading designer and supplier of compact, electronically controlled electric actuators and automation solutions for valves. The acquisition will broaden Metso Automation's product line and strengthen its strategic position in the automation business.
Valvcon products are sold worldwide into chemical, oil and gas, power and food processing industries and also used in water, waste treatment and transportation. These products and applications complement Metso Automation's flow control products, and will allow Metso Automation to better serve customers with complete automation packages.
Valvcon was founded in 1986 and has supplied electrical actuators to the process industry. Valvcon has grown to sales of USD 5 million and it employs about 10 people.
Metso Corporation is a global supplier of process industry machinery and systems. Corporation's automation and control technology business area, Metso Automation develops and supplies process automation and flow control solutions for the pulp and paper, refining, petrochemical, chemical and energy industries. Metso's other core businesses are divided between Metso Minerals (rock and mineral processing) and Metso Paper (fiber and paper technology). In 2000, the net sales of Metso Corporation were EUR 3.9 billion, and the personnel totaled approximately 22,000. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.