Business News
Metso acquires Mitsubishi paper making technology and becomes sole owner of Beloits paper machinery intellectual property
Wednesday 28. May 2008 - Metso Paper has closed the deal with Mitsubishi Heavy Industries (MHI) over the acquisition of MHIs paper machinery technology. The transaction enhances Metso Papers technological leadership as well as services especially in Asia and Japan, where Metso Paper has opened a new office in Onomichi. More staff has been recruited in Japan to further complement Metso Papers extensive network of close to 50 service locations around the world in over 20 countries.
“This acquisition strengthens our capabilities in Asia”, says Jari Siitonen, Vice President, Sales, Asia Pacific, at Metso Paper. “We look forward to cooperate with mills operating MHI equipment and will ensure continuous technical support for them through our global network of spare part, logistics, and specialist service network.”
Back in 2000, both Metso Paper and MHI purchased rights to the intellectual property of Beloit Corporations paper machinery technology. Through the new acquisition Metso Paper is now the sole owner of Beloits paper machinery intellectual property.