Metso Corporation: Future Neles strengthens its valves service availability with new service centers in Portugal and France

Future Neles strengthens its valves service availability with new service centers in Portugal and France

Metso Corporation's press release on December 17, 2019 at 1:00 p.m. EET

Metso's valve business, future Neles Corporation, will establish two new service centers in Lisbon, Portugal, and in the Mulhouse area, France, to increase its valves' service availability and presence close to customers. Service centers offer valve repair services as well as predictive maintenance services, e.g. digitalized process diagnostic services and shutdown planning, to help customers to increase their plant reliability.

"We are constantly developing our operations to fulfill our customers' needs. We have a comprehensive service portfolio, ranging from genuine quality parts to complex shutdown solutions. We want to be a reliability partner by helping our customers to reduce the risks of valve failure and expensive unplanned shutdowns," says Timo Hänninen, Vice President of Valve Services at Metso.

The service center in Portugal was opened during the third quarter of 2019. The opening of the service center in France is planned for the second quarter of 2020.

Future Neles currently has 40 service sites in more than 20 countries. "Our valve services experts are involved in more than 150 large-size shutdowns globally every year, and today we have more than 100 valve service agreements with our customers," Hänninen says.

About future Neles Corporation

The future Neles Corporation is a well-known flow control solutions and services provider to the oil and gas refining, the pulp, paper and bioproducts industry, the chemicals and other process industries. Neles employs 2,900 people and it has operations in more than 40 countries. Neles' unaudited carve-out sales for full-year 2018 were EUR 593 million (January-September 2019: EUR 493 million) and carve-out operating profit was EUR 83 million (January-September 2019: EUR 75 million.)

Neles Corporation is planned to be created in a partial demerger of Metso, in which Metso's Flow Control business would become the independent Neles Corporation and it would continue Metso's listing on Nasdaq Helsinki. Simultaneously, Metso's Minerals Business would combine with Outotec to create Metso Outotec.

The partial demerger is targeted to be completed in the second quarter of 2020, subject to the receipt of all required regulatory and other approvals. The Extraordinary General Meetings of both Metso and Outotec approved the transaction on October 29, 2019.

Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 3.2 billion in 2018. Metso employs over 14,000 people in more than 50 countries.

metso.com, twitter.com/metsogroup

For further information, please contact:

Timo Hänninen, Vice President, Valve Services, Valves business area, Metso, Tel. [phone], E-mail: [e-mail]

Helena Marjaranta, Vice President, Communications and Stakeholder Relations, Metso Corporation, Tel. [phone], E-mail: [e-mail]

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• Image: Valves services personnel (https://ml-eu.globenewswire.com/Resource/Download/2852ad73-27f3-4ead-a318-855f2ebee32c)