Metso sells Flexowell conveyor belt operations, assets

| April 13, 2010

Metso has sold its Flexowell conveyor belt operations and related assets in Moers, Germany, to ContiTech Transportbandsysteme GmbH.

Flexowell operations consist of conveyor belts and systems for bulk material handling, and it is part of Metso’s Mining and Construction Technology segment. Conveyor belts and bulk material handling systems will continue to be an essential part of Metso’s offering to mining and construction industries also in the future, the company says.

The sale is part of Metso’s strategy to develop and simplify current production network, the aim of which is to improve the competitiveness of the business and to further develop customer service. The final closing will require relevant regulatory approvals. The sale will have no material impact on Metso’s financial performance.

Flexowell conveyor belt business is planned to be transferred to ContiTech Transportbandsysteme GmbH on May 1, 2010. All personnel related to the Flexowell operations in Moers will be transferred to ContiTech Transportbandsysteme GmbH.

ContiTech Transportbandsysteme GmbH is a development partner, manufacturer and system supplier of steel-cable and textile-ply conveyor belts, service materials and special products with worldwide installation and maintenance service. ContiTech Transportbandsysteme GmbH is owned by ContiTech AG.

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