Bobst Group plans acquisition of Finnish converter

Bobst Group SA intends to buy the converting activities of Metso Corporation

Bobst Group SA, has signed a Memorandum of Understanding about the acquisition of the converting activities of Metso Corporation, Helsinki, Finland.

Metso Corporation is a supplier of process industry machinery and systems for the pulp, paper, rock and mineral industries.

Negotiations and the due diligence process are expected to be completed by the end of the first quarter of 2003.

The relevant regulatory approval processes will be initiated subsequently.

This planned acquisition is in line with the strategy of Bobst Group to expand its activities in the flexible packaging industry.

The main activities of Metso's Converting group are located in England (Titan, Atlas, General) and in Italy (Rotomec).

Net sales of the business group totaled Euro 176 million in 2001.

The number of employees is approximately 800.

Metso's Converting group offers its customers rotogravure and flexographic printing presses, coating and laminating machines, slitters and sheet cutters.

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