DI&ESSE ETTEPLAN AND METSO PAPER COMO IN
Stock exchange release – Published: 14.04.2004 13:30:00
ETTEPLAN OYJ STOCK EXCHANGE RELEASE 14 April 2004 14.30 p.m. 1(1) DI&ESSE ETTEPLAN AND METSO PAPER COMO IN ITALY SIGNED A LETTER OF INTENT FOR TRANSFER OF DESIGN SERVICES Di&Esse Etteplan Srl, member of Etteplan Group and Metso Paper Como S.p.A, member of Metso Corporation, have today signed a Letter of Intent for transfer of Metso Paper Como design services and in order to enter into a co-operation agreement for providing complete engineering supply services from Di&Esse Etteplan to Metso Paper Como. According to the agreement 19 persons from Metso Paper Como will join Di&Esse Etteplan. The agreement is an extension to co- operation between Etteplan and Metso Paper in Finland and Sweden. Di&Esse Etteplan Srl is owned by Etteplan Oyj, SpazioSystem S.P.A, an Italian CAD/CAM software house and by Mr. Tito Cattaneo, Managing Director of Di&Esse Srl. Etteplan has a 51 % majority holding in the company. Presently Di&Esse Etteplan employs 17 persons in Bernate Ticino and serves mainly automotive and machinery industries. After completion of the agreement Di&Esse Etteplan will set up a design office in Como, where the new employees will be located. The agreement follows Etteplan's strategy according to which the company offers industrial technology design services geographically close to its key customers. The target for Di&Esse Etteplan is to increase the capacity and competence. Through this outsourcing operation, Metso Paper Como aims to improve functional flexibility and cost efficiency in the design functions. Metso Paper Como S.p.A belongs to Metso Paper, representing the core business of fiber and paper technology of Metso Corporation, a global supplier of process industry machinery and systems, as well as know- how and aftermarket services. In 2003, the net sales of Metso Corporation were EUR 4.3 billion and the personnel totalled approximately 27,400. Metso Corporation is listed on the Helsinki and New York Stock Exchanges. Etteplan Oyj is one of Finland's leading engineering design companies and supplies high-quality design services for the production and product development processes of industrial technology. The core areas of expertise are machine technology and automation design as well as software development and electronics design. In 2003, net sales of Etteplan Group were 51 MEUR and the personnel totalled 936 persons in Finland, Sweden, Germany and Italy. Etteplan Oyj is listed on the NM List of Helsinki Exchanges. Hollola, 14 April, 2004 Etteplan Oyj Board of Directors For additional information, contact: CEO Heikki Hornborg, tel. +358 3 872 9011, GSM +358 400 873 063. DISTRIBUTION: Helsinki Exchanges Principal media www.etteplan.com