Metso's Board of Directors approves the strategy, organization, and financial
targets for the new Valmet Corporation*
HELSINKI, FINLAND -- (Marketwired) -- 09/03/13 --
Metso Corporation's stock exchange release on September 3, 2013 at
In preparation for Metso's planned demerger, the Board of Directors
the strategy, organization, and financial targets for the
new Valmet Corporation*.
Valmet will focus on delivering technology and services globally to
that use bio-based raw materials. Valmet's vision is to
become the global champion in serving its customers, and its mission
is to convert renewable resources into sustainable results.
Valmet's main customer industries are pulp, paper, and energy. All of
major global industries that offer growth potential for the
future. Valmet will
complement its core business by applying its
technology and know-how to industries beyond biomass, particularly in
the energy sector.
Valmet's product and service portfolio consists of
productivity-enhancing services, plant upgrades and rebuilds, new
cost-efficient equipment and solutions for optimizing energy and raw
material usage, and technologies increasing the value of its
Valmet's Must-Win initiatives to achieve strategic targets
Valmet will seek to achieve its strategic goals by pursuing the
following Must-Win initiatives:
1. Customer excellence Strengthen key account management to enhance
growth at the customer. Drive service growth through long term
agreements and expanded customer base.
2. Leader in technology and innovation Develop more cost competitive
and less capital intensive products. Create new revenue from
biotechnology solutions and new offering.
3. Excellence in processes Improve health and safety. Reduce quality
costs. Increase savings from procurement initiatives.
4. Winning team Strengthen high-performance culture. Continue
further globalization of our capabilities to be closer to customers.
Operating model and reporting structure
Valmet's operating model will consist of three business lines, five
four support functions. The business lines will be
Services, Pulp and Energy,
and Paper; and the geographical areas will
be North America, South America, EMEA, Asia-Pacific, and China. The
four main support functions will be Finance,
Strategy and Operational
Development, HR, and Communications and Marketing.
Valmet will report its financial results as one segment.
Metso's Board of Directors has set the following financial targets
* Net sales growth to exceed market growth
* EBITA before non-recurring items: 6-9%
* Return on capital employed (pre-tax), ROCE: minimum of 15%
* Dividend payout at least 40% of net profit
Comment from Pasi
Laine, President and CEO of Valmet Corporation*
"Valmet's goal will be to be the global leader in serving customers
in its industries; and its core purpose to convert renewable raw
materials into sustainable results."
"Valmet's competitiveness will be based on our leading position in
services and technologies for industries using bio-based
raw materials. Our comprehensive services offering, broad service
network, and large installed base
will provide a solid platform for
growth. We will continue to ensure our technological leadership with
focused and future-oriented R&D and accelerate the commercialization
of our innovations."
"We are committed to move our customers' performance forward; and we
will continue to develop and sustain our position as a trusted partner
for our customers. Together with our highly skilled personnel, we are
committed to the
future success of Valmet and that of its customers
Valmet's Executive Management Team
Valmet Corporation's Executive Management Team* will consist of
CEO Pasi Laine and the heads of its business lines,
geographical areas, and four
key support functions. The members of
the Executive Management Team are:
Pasi Laine, President and CEO
Heads of business lines:
Jukka Tiitinen, Services
Jyrki Holmala, Pulp and Energy
Jari Vaehaepesola, Paper
Heads of geographical areas:
Bill Bohn, North America
Celso Tacla, South America
Hannu Maelkiae, EMEA
Aki Niemi, China
Hannu T Pietilae, Asia-Pacific
Heads of staff functions:
Markku Honkasalo, Finance (CFO)
Kari Saarinen, Strategy and Operational Development
Julia Macharey, Human Resources
Anu Salonsaari-Posti, Marketing and Communications
*Pending the approval of the Metso EGM, to be held on October 1,
2013, and registration of the demerger.
Metso's pulp, paper and power professionals specialize in processes,
equipment, services, paper machine clothing and filter
fabrics. Our offering and experience cover the entire process life
cycle, including new production lines,
rebuilds, and services.
As of January 2014, Metso's Pulp, Paper and Power business will serve
its customers with an even more focused and competitive approach as an
listed company, Valmet Corporation.*
*Pending the approval of the Metso EGM to be held on October 1, 2013,
and registration of the demerger.
Metso is a global supplier of technology and services to customers in
the process industries, including mining, construction, pulp and
paper, power, and
oil and gas. Our 30,000 professionals based in over
50 countries contribute to
sustainability and deliver profitability
to customers worldwide. Metso's shares
are listed on the NASDAQ OMX
VP, Investor Relations
NASDAQ OMX Helsinki Ltd
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originality of the information contained therein.
Source: Metso Corporation via Thomson Reuters ONE
Further information, please contact:
President and CEO
Valmet Corporation *
tel. +358 20 484 3200
(after 2 p.m.)
tel. +358 50 598 8728
SVP, Marketing and Communications
tel. +358 50 453 4262
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