Wednesday, April 1, 2015 12:30 pm

HELSINKI, Finland -- Metso announced 1 April 2015 that it has taken a significant step in implementing its strategy by completing the divestment of its Process Automation Systems (PAS) business to Valmet. The enterprise value of the transaction was EUR 340 million, and Metso expects to book a significant capital gain in its second-quarter results. The sale of the PAS business to Valmet was originally announced on January 15, 2015.

The divestment of PAS is part of Metso's strategy under which it will focus on the mining and aggregates industries and on the flow control business.