All agreed loans

Finland. Metso Corporation

Date of loan: 5 Dec 2007
Country: Finland
Customer: Metso Corporation
Amount in USD: USD 85 million
Amount in EUR: EUR 57.7 million
Maturity: 7 years
NACE sector / loan type: Manufacture of machinery and equipment n.e.c.
Business area: Industries and services

Project

The 7-year-maturity USD 85 million loan has been granted to Metso Corporation for financing its acquisition of the pulping and power business of the Norwegian Aker Kvaerner Group in March 2006. The acquisition will enhance Metso's global leadership as an industrial supplier to pulp and paper producers in different countries. The acquisition will also give an opportunity for Metso to complement the technology base and the customer service in chemicals recovery and hardwood pulping processes. Metso is an international technology corporation that serves customers in the pulp and paper industry, rock and minerals processing, power generation and other selected industrial sectors.

Sustainability summary

The acquisition of the pulping and power business of the Aker Kvaerner Group does not give rise to significant changes in the facilities environmental performance. Metso assigned a consultant to undertake environmental site assessments (ESA) of the acquired plants. The ESA comprised site inspections, interviews of relevant staff and review of environmental documentation. When major environmental concerns were identified, phase II ESA's were conducted in order to quantify the environmental risks. Environmental concerns identified during the ESA process, which are not already mitigated, are to be handled within Metso's normal operational work with Environmental Management Systems.