Metso Oyj http://www.alacrastore.com/company-snapshot/Metso_Oyj-2019093 Thursday, July 24, 2008 4:01:42 PM 2019093 Metso Oyj en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/657506spcred/657506normThe latest Full Report from S&Pglobal7/2/2008 8:22:39 AM400Full Report657506FinlandIndustrial MachineryAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaGlobal IssuersCorporationsCapital GoodsFull ReportLeading market positions in core businesses Geographic diversification Modest capital expenditures needs Cyclical demand and price competition in the industry Dependence on two core segments High fixed cost base for some operations The ratings on Metso Corp. reflect the group's satisfactory business profile, underpinned by leading market positions in its largest businesses of rock and mineral processing and pulp and paper machinery; its geographically diversified earnings base; improved operating performance and cost structure; and intermediate financial risk profile in line with the rating level. This is balanced by Metso's exposure to cyclical demand and price competition in its core businesses, and limited end-user industry diversification. On March 31, 2008, Metso's adjusted debt was about €1 billion, including estimated postretirement liabilitiesFIN92023220106020 201060 2010 20Metso Corp.336781ASIAEMERGINGEUROMIDAFRLATAMERICAMEO1V@FHFULLGLOBISSCORPCapitalCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/657507spcred/657507normThe latest Summary from S&Pglobal7/2/2008 8:22:39 AM175Summary657507FinlandIndustrial MachineryAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaGlobal IssuersCorporationsCapital GoodsSummaryThe ratings on Metso Corp. reflect the group's satisfactory business profile, underpinned by leading market positions in its largest businesses of rock and mineral processing and pulp and paper machinery; its geographically diversified earnings base; improved operating performance and cost structure; and intermediate financial risk profile in line with the rating level. This is balanced by Metso's exposure to cyclical demand and price competition in its core businesses, and limited end-user industry diversification. On March 31, 2008, Metso's adjusted debt was about €1 billion, including estimated postretirement liabilities and operating leases of about €272 million, and a deduction of €295 million in excess cash. While its underlying cash generation is currently strong, we expect debt levels to increase as aFIN92023220106020 201060 2010 20Metso Corp.336781ASIAEMERGINGEUROMIDAFRLATAMERICAMEO1V@FHSUMMARYGLOBISSCORPCapitalCredit & Investment ResearchS&P Credit ResearchCANADA - Metso Corp agreed to acquire the Lachine Main Plant of GE Energy, a manufacturer of power generators. Terms were not disclosed.6/25/2008 3:03:58 PM59267136512Z592671369604Metso CorporationGE Energy-Lachine Main PlantMetso CorporationGeneral Electric Co{GE}http://www.alacrastore.com/storecontent/Thomson_M%26A/Metso_Corporation_acquires_GE_Energy_Lachine_Main_Plant_from_GE-1989630040sdc/19896300401989630040Copyright © 2008, Thomson Financial, All Rights ReservedHelsinkiMachineryFinlandPaper industries machinery3554FFForeignPublicMEO1V2611:Pulp mills3491:Industrial valves3531:Construction machinery and equipment3554:Paper industries machinery3621:Motors and generators3629:Electrical industrial apparatus, nec3823:Process control instruments6719:Offices of holding companies, nec6799:Investors, nec2611:Pulp mills3491:Industrial valves3531:Construction machinery and equipment3554:Paper industries machinery3621:Motors and generators3629:Electrical industrial apparatus, nec3823:Process control instruments6719:Offices of holding companies, nec6799:Investors, necMachineryCanadaTurbines and turbine generator sets3511FFForeignSubsidiary12905004Mnfr process machMnfr,whl power generation prodUnspecifiedAssets1024554001Jun 25 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.0000019.0000020.0000021.0000022.0000023.0000024.0000025.0000026.0000027.0000028.0000029.0000030.0000031.0000032.0000033.00000Metso Corporation, located inHelsinki, Finland,manufactures process industrymachinery and systems. Itoperates in five segments:Paper, Minerals, Automation,Valmet Automotive andCorporate Office & Other.Paper is a global supplier forpulp and paper industry andpower generation processes,machinery, equipment andrelated know-how and services.Minerals provide equipment andsolutions for crushing,grinding, screening andtransport of rock andminerals. Automation designs,develops and supplies bothprocess automation andinformation management.Corporate Office & Other iscomprised of the parentcompany and holding companiesand financial shared servicecenters. Valmet Automotive isa vehicle manufacturer. Thecompanys operations arelocated in Sweden, France,Germany, UK, Canada, US,China, India, and SouthAfrica. The company wasfounded in 1951.Metso Corporation, located in Helsinki, Finland,manufactures process industry machinery and systems. Itoperates in five segments: Paper, Minerals, Automation,Valmet Automotive and Corporate Office & Other. Paper is aglobal supplier for pulp and paper industry and powergeneration processes, machinery, equipment and relatedknow-how and services. Minerals provide equipment andsolutions for crushing, grinding, screening and transport ofrock and minerals. Automation designs, develops and suppliesboth process automation and information management.Corporate Office & Other is comprised of the parent companyand holding companies and financial shared service centers.Valmet Automotive is a vehicle manufacturer. The companysoperations are located in Sweden, France, Germany, UK,Canada, US, China, India, and South Africa. The company wasfounded in 1951.Metso Corporation, located in Helsinki, Finland, manufactures process industry machinery and systems. It operates in five segments: Paper, Minerals, Automation, Valmet Automotive and Corporate Office & Other. Paper is a global supplier for pulp and paper industry and power generation processes, machinery, equipment and related know-how and services. Minerals provide equipment and solutions for crushing, grinding, screening and transport of rock and minerals. Automation designs, develops and supplies both process automation and information management. Corporate Office & Other is comprised of the parent company and holding companies and financial shared service centers. Valmet Automotive is a vehicle manufacturer. The companys operations are located in Sweden, France, Germany, UK, Canada, US, China, India, and South Africa. The company was founded in 1951.1.000002.000003.000004.000005.00000Lachine main plant facility ofGE Energy. The facilitymanufactures hydraulicturbines and power generationequipment.Lachine main plant facility of GE Energy. The facilitymanufactures hydraulic turbines and power generationequipment.Lachine main plant facility of GE Energy. The facility manufactures hydraulic turbines and power generation equipment.0.000000.000000.000000.00000Y23 Jun 08Mon, 23 Jun 2008 00:00:00 ESTDate Announced: 06/23/2008Date Effective:Acq. of AssetsFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000007083.214000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.00000CANADA - Metso Corp agreed toacquire the Lachine Main Plantof GE Energy, a manufacturerof power generators. Termswere not disclosed.CANADA - Metso Corp agreed to acquire the Lachine Main Plant of GE Energy, a manufacturer of power generators. Terms were not disclosed.CANADA - Metso Corp agreed to acquire the Lachine Main Plant of GE Energy, a manufacturerof power generators. Terms were not disclosed.CANADA - Metso Corp agreed to acquire the Lachine Main Plant of GE Energy, a manufacturer of power generators. Terms were not disclosed.CANADA - Metso Corp agreed to acquire the Lachine Main Plant of GE Energy, a manufacturer of power generators. Terms were not disclosed.Pending0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Pending-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000003511:Turbines and turbine generator sets3621:Motors and generators12905004HelsinkiFinland3554ForeignPublicMEO1V2821:Plastics materials and synthetic resins3511:Turbines and turbine generator sets3612:Power, distribution, and specialty transformers3632:Household refrigerators and home and farm freezers3641:Electric lamp bulbs and tubes3651:Household audio and video equipment3663:Radio & TV broadcasting & communications equipment3724:Aircraft engines and engine parts3743:Railroad equipment3825:Instruments to measure electricity5012:Automobiles and other motor vehicles5013:Automotive parts, supplies5063:Electrical apparatus and equip5064:Electrical appliances, television and radio sets5065:Electronic parts and equipment, nec7379:Computer related services,nec7699:Repair shops and related services, nec8711:Engineering services8999:Services, nec2522001New YorkUnited States3612ConnecticutPublicGE0.000000.000000.000000.00000Deal InformationThomson Financial Mergers & AcquisitionsDENMARK - Metso Oyj of Finland acquired Kemotron A/S, a Kongens Lyngby-based manufacturer of measurement equipment. Terms were not disclosed.6/3/2008 12:09:02 PM59267148831H59267148831HMetso OyjKemotron A/SMetso OyjKemotron A/Shttp://www.alacrastore.com/storecontent/Thomson_M%26A/Metso_Oyj_acquires_Kemotron_A_S-1982752040sdc/19827520401982752040Copyright © 2008, Thomson Financial, All Rights ReservedHelsinkiInvestment & Commodity Firms,Dealers,ExchangesFinlandInvestors, nec6799FFForeignPublicMEO1V6719:Offices of holding companies, nec6799:Investors, nec6719:Offices of holding companies, nec6799:Investors, necMeasuring, Medical, Photo Equipment; ClocksDenmarkMeasuring&controlling devices3829FFForeignPrivate12905004Invest hldg coMnfr measurement equipUnspecifiedAssets1013637001Jun 3 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.00000Metso Oyj, located inHelsinki, Finland, is aninvestment holding company.The company operates in threebusiness areas: Metso Paper,Metso Minerals and MetsoAutomation. The companysoperations lie in Sweden,France, Germany, UK, Canada,US, China, India, and SouthAfrica. The company wasfounded in 1951.Metso Oyj, located in Helsinki, Finland, is an investmentholding company. The company operates in three businessareas: Metso Paper, Metso Minerals and Metso Automation. Thecompanys operations lie in Sweden, France, Germany, UK,Canada, US, China, India, and South Africa. The company wasfounded in 1951.Metso Oyj, located in Helsinki, Finland, is an investment holding company. The company operates in three business areas: Metso Paper, Metso Minerals and Metso Automation. The companys operations lie in Sweden, France, Germany, UK, Canada, US, China, India, and South Africa. The company was founded in 1951.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000Kemotron A/S, located inKongens Lyngby, Denmark,manufactures measurementequipment. The companysproducts include alkalianalyzers, concentrationanalyzers, conductivityanalyzers and calibrationanalyzers. The company wasfounded in 1963.Kemotron A/S, located in Kongens Lyngby, Denmark,manufactures measurement equipment. The companys productsinclude alkali analyzers, concentration analyzers,conductivity analyzers and calibration analyzers. Thecompany was founded in 1963.Kemotron A/S, located in Kongens Lyngby, Denmark, manufactures measurement equipment. The companys products include alkali analyzers, concentration analyzers, conductivity analyzers and calibration analyzers. The company was founded in 1963.0.000000.000000.000000.00000Y30 May 08Fri, 30 May 2008 00:00:00 ESTDate Announced: 05/30/200830 May 08Date Effective: 05/30/200830 May 08Acq. of AssetsFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.00000100.00000100.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.00000DENMARK - Metso Oyj of Finlandacquired Kemotron A/S, aKongens Lyngby-basedmanufacturer of measurementequipment. Terms were notdisclosed.DENMARK - Metso Oyj of Finland acquired Kemotron A/S, a Kongens Lyngby-based manufacturer of measurement equipment. Terms were not disclosed.DENMARK - Metso Oyj of Finland acquired Kemotron A/S, a Kongens Lyngby-based manufacturerof measurement equipment. Terms were not disclosed.DENMARK - Metso Oyj of Finland acquired Kemotron A/S, a Kongens Lyngby-based manufacturer of measurement equipment. Terms were not disclosed.DENMARK - Metso Oyj of Finland acquired Kemotron A/S, a Kongens Lyngby-based manufacturer of measurement equipment. Terms were notdisclosed.Completed0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Completed-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000003554:Paper industries machinery3829:Measuring&controlling devices5084:Industrial machinery and equipment12905004HelsinkiFinland6799ForeignPublicMEO1V3554:Paper industries machinery3829:Measuring&controlling devices5084:Industrial machinery and equipment1013637001Denmark3829ForeignPrivate0.000000.000000.000000.00000Deal InformationThomson Financial Mergers & AcquisitionsFINLAND - An undisclosed investor group acquired the Spreader roll manufacturing business of Metso Oyj, a Helsinki-based investment holding company. Terms were not disclosed. On completion, the business was renamed Finbow Oy.5/30/2008 5:21:35 PM46145M59264J46145M592671Investor GroupMetso Oyj-Speader Roll Manufacturing Business(NOW 31912P)Investor GroupMetso Oyjhttp://www.alacrastore.com/storecontent/Thomson_M%26A/Investor_Group_acquires_Metso_Speader_Roll_Bus_from_Metso_Oyj-1981905040sdc/19819050401981905040Copyright © 2008, Thomson Financial, All Rights ReservedInvestment & Commodity Firms,Dealers,ExchangesFinlandInvestors, nec6799FFForeignPrivate6799:Investors, nec6799:Investors, necMachineryFinlandConstruction machinery and equipment3531FFForeignSubsidiary9920001Investor groupInvest hldg coUnspecifiedAssets1013161001May 30 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.00000Investor groupInvestor groupInvestor group1.000002.000003.000004.000005.00000Spreader roll manufacturingbusiness of Metso Oyj, locatedin Nokia, Finland,manufactures spreader rollmachinery.Spreader roll manufacturing business of Metso Oyj, locatedin Nokia, Finland, manufactures spreader roll machinery.Spreader roll manufacturing business of Metso Oyj, located in Nokia, Finland, manufactures spreader roll machinery.0.000000.000000.000000.00000N28 May 08Wed, 28 May 2008 00:00:00 ESTDate Announced: 05/28/200828 May 08Date Effective: 05/28/200828 May 08Acq. of AssetsFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.00000100.00000100.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.00000FINLAND - An undisclosedinvestor group acquired theSpreader roll manufacturingbusiness of Metso Oyj, aHelsinki-based investmentholding company. Terms werenot disclosed. On completion,the business was renamedFinbow Oy.FINLAND - An undisclosed investor group acquired the Spreader roll manufacturing business of Metso Oyj, a Helsinki-based investment holding company. Terms were not disclosed. On completion, the business was renamed Finbow Oy.FINLAND - An undisclosed investor group acquired the Spreader roll manufacturing businessof Metso Oyj, a Helsinki-based investment holding company. Terms were not disclosed. Oncompletion, the business was renamed Finbow Oy.FINLAND - An undisclosed investor group acquired the Spreader roll manufacturing business of Metso Oyj, a Helsinki-based investment holding company. Terms were not disclosed. On completion, thebusiness was renamed Finbow Oy.FINLAND - An undisclosed investor group acquired the Spreader roll manufacturing business of Metso Oyj, a Helsinki-based investmentholding company. Terms were not disclosed. On completion, the business was renamed Finbow Oy.Completed0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Completed-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000003531:Construction machinery and equipment9920001Unknown6799ForeignPrivate6719:Offices of holding companies, nec6799:Investors, nec12905004HelsinkiFinland6799ForeignPublicMEO1V0.000000.000000.000000.00000Deal InformationThomson Financial Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/cs/69224cs/69224norm Metso FY## Tearsheet Metso benefits from its powerful market position in both paper and rock crushing machinery boosted by currently benign industrial environments. It has recorded strong cash flow generation which has allow it to delever...69224582YesC21Tearsheet2038tearsheets/premium61394725/27/2008 12:05:52 PM15069224Credit & Investment ResearchCreditSightsGERMANY - Metso Oyj acquired Mapag Valves GmbH, a unit of Linde AG, a Horgau-based manufacturer of valves and actuators, for ## mil euros ($##.### mil US).5/9/2008 1:23:01 PM59267156516N59267153515QMetso OyjMapag Valves GmbHMetso OyjLinde AGhttp://www.alacrastore.com/storecontent/Thomson_M%26A/Metso_Oyj_acquires_Mapag_Valves_GmbH_from_Linde_AG-1976016040sdc/19760160401976016040Copyright © 2008, Thomson Financial, All Rights ReservedHelsinkiPaper and Allied ProductsFinlandPaper mills2621FFForeignPublicMEO1V2621:Paper mills3554:Paper industries machinery5084:Industrial machinery and equipment5112:Stationery and office supplies6719:Offices of holding companies, nec2621:Paper mills3554:Paper industries machinery5084:Industrial machinery and equipment5112:Stationery and office supplies6719:Offices of holding companies, necMetal and Metal ProductsGermanyFluid power valves and hose fittings3492FFForeignPublic12905004Mnfr paper industry mach,paperMnfr indl mach,gasesCashCash OnlyAssets1009609001May 9 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.00000Metso Oyj, headquartered inHelsinki, Finland and withlocations in Sweden, France,Germany, the UK, Canada, theUS, China, India, and SouthAfrica, operates in fivesegments: Paper, Minerals,Automation, Valmet Automotiveand Corporate Office&Other.The company was founded in1951.Metso Oyj, headquartered in Helsinki, Finland and withlocations in Sweden, France, Germany, the UK, Canada, theUS, China, India, and South Africa, operates in fivesegments: Paper, Minerals, Automation, Valmet Automotive andCorporate Office&Other. The company was founded in 1951.Metso Oyj, headquartered in Helsinki, Finland and with locations in Sweden, France, Germany, the UK, Canada, the US, China, India, and South Africa, operates in five segments: Paper, Minerals, Automation, Valmet Automotive and Corporate Office&Other. The company was founded in 1951.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.00000Mapag Valves GmbH,headquartered in Horgau,Germany, manufactures valvesand actuators for differenttypes of plants in thechemical, petrochemical,natural gas, LNG Nuclear andconventional power stations,fire and earthquake shut-downsystems, special rapid closingemergency shut-down systemsand air separation industry.Mapag Valves GmbH, headquartered in Horgau, Germany,manufactures valves and actuators for different types ofplants in the chemical, petrochemical, natural gas, LNGNuclear and conventional power stations, fire and earthquakeshut-down systems, special rapid closing emergency shut-downsystems and air separation industry.Mapag Valves GmbH, headquartered in Horgau, Germany, manufactures valves and actuators for different types of plants in the chemical, petrochemical, natural gas, LNG Nuclear and conventional power stations, fire and earthquake shut-down systems, special rapid closing emergency shut-down systems and air separation industry.0.000000.000000.000000.00000YEURO07 May 08Wed, 07 May 2008 00:00:00 ESTDate Announced: 05/07/2008Date Effective:Acq. of AssetsFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000036 EURO36.000000.0000036 EURO36.000000.000000.000000.000000.0000036.0000036 EURO1.55300N28.336000.000000.000000.000000.000000.0000055.9090055.909000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.00000GERMANY - Metso Oyj acquiredMapag Valves GmbH, a unit ofLinde AG, a Horgau-basedmanufacturer of valves andactuators, for 36 mil euros($55.909 mil US).GERMANY - Metso Oyj acquired Mapag Valves GmbH, a unit of Linde AG, a Horgau-based manufacturer of valves and actuators, for 36 mil euros ($55.909 mil US).GERMANY - Metso Oyj acquired Mapag Valves GmbH, a unit of Linde AG, a Horgau-basedmanufacturer of valves and actuators, for 36 mil euros ($55.909 mil US).GERMANY - Metso Oyj acquired Mapag Valves GmbH, a unit of Linde AG, a Horgau-based manufacturer of valves and actuators, for 36 mil euros ($55.909 mil US).GERMANY - Metso Oyj acquired Mapag Valves GmbH, a unit of Linde AG, a Horgau-based manufacturer of valves and actuators, for 36 mil euros($55.909 mil US).Pending0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Pending-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000003491:Industrial valves3492:Fluid power valves and hose fittings3593:Fluid power cylinders and actuators12905004HelsinkiFinland2621ForeignPublicMEO1V2813:Industrial gases3537:Industrial trucks, tractors, trailers, & stackers3569:General industrial machinery and equipment3585:Refrigeration and heating equipment10390001FrankfurtGermany3569ForeignPublicLING55.9090036.0000055.9090028.33600Deal InformationThomson Financial Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/cs/59758cs/59758norm US Housing and European Building Materials - The Straw That Breaks The Camel's Back? We review the impact of the current US Housing Crisis on the credit quality of the European Building Materials sector How are the US Housing Decline...20636411347bscore/researchcorp/reportshycorp193147872100396172342High Yield21Sector Outlooks7BondScore48Transcripts4/12/2008 10:13:00 PM250Slides and transcript from our speech at the Third Annual CreditSights September Conference held last week in London. We review the impact of the current US Housing Crisis on the credit quality of the European Building Materials sector.1960BondScore1368101220481019203852202119512035597586321YesD859758Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/spcred/641026spcred/641026normThe latest News from S&P4/4/2008 10:45:28 AMNews100global641026FinlandIndustrial MachineryAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaGlobal IssuersCorporationsCapital GoodsNewsFRANKFURT (Standard&Poor's) April 4, 2008--Standard&Poor's Ratings Services said today it revised its outlook on Finland-based engineering group Metso Corp. to positive from stable. The 'BBB' long-term and 'A-2' short-term corporate credit ratings were affirmed. At the same time, we raised the senior unsecured debt ratings on Metso to 'BBB' from 'BBB-'. "The outlook revision reflects Metso's currently strong performance for the rating level and the potential that its future performance and risk profile could be appropriate for a 'BBB+' long-term rating," said Standard&Poor's credit analyst Anna Stegert. To achieve this, the company would have to continue its strong performance and resilience to a market downturn, make progress in expanding in the more attractive energyFIN92023220106020 201060 2010 20Metso Corp.336781ASIAEMERGINGEUROMIDAFRLATAMERICAMEO1V@FHNEWSGLOBISSCORPCapitalCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/641027spcred/641027normThe latest Research Update from S&P4/4/2008 10:45:28 AMResearch Update175global641027FinlandIndustrial MachineryAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaGlobal IssuersCorporationsCapital GoodsResearch UpdateOn April 4, 2008, Standard&Poor's Ratings Services revised its outlook on Finland-based engineering group Metso Corp. to positive from stable. The 'BBB' long-term and 'A-2' short-term corporate credit ratings were affirmed. At the same time, we raised the senior unsecured debt ratings on Metso to 'BBB' from 'BBB-'. The outlook revision reflects Metso's currently strong performance for the rating level and the potential that its future performance and risk profile could be appropriate for a 'BBB+' long-term rating. To achieve this, the company would have to continue its strong performance and resilience to a market downturn, make progress in expanding in the more attractive energy sector, and maintain a moderate financial policy. Our upgrade of Metso's senior unsecuredFIN92023220106020 201060 2010 20Metso Corp.336781ASIAEMERGINGEUROMIDAFRLATAMERICAMEO1V@FHRESUPDGLOBISSCORPCapitalCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/COP_600035231moodys/COP_600035231htmlCredit Opinion1/4/2008 2:20:16 AMGlobal Credit Research Credit Opinion # NOV #### Credit Opinion: Metso Corporation Metso Corporation Helsinki, Finland Ratings Category Moody's Rating Outlook Stable Issuer Rating Baa# Senior Unsecured Baa# Contacts Analyst Phone Oliver...Metso Corporation600035231150.0000NewshtmlMetso CorporationCOP_600035231Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/cs/63511cs/63511norm63511 Metso #Q## Tearsheet Metso benefits from its powerful market position in both paper and rock crushing machinery boosted by currently benign industrial environments. It has recorded strong cash flow generation which has allow it to a...608YesC21Tearsheet2038tearsheets/premium61439721/3/2008 12:11:02 PM15063511Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/PR_62260_600035231moodys/PR_62260_600035231htmlRating Action12/21/2007 4:58:02 AMGlobal Credit Research Rating Action # DEC #### Rating Action: Metso Corporation MOODY'S CONFIRMS METSO'S Baa# RATINGS; OUTLOOK CHANGED TO NEGATIVE Approximately EUR #.# Billion of Debt Securities Affected Frankfurt, December ##, ####...Metso Corporation600035231150.00NewshtmlMetso CorporationPR_62260_600035231Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_143207_600035231moodys/PR_143207_600035231htmlRating Action11/1/2007 12:25:18 AMGlobal Credit Research Rating Action ## OCT #### Rating Action: Metso Corporation Moody's upgrades Metso to Baa#, stable outlook Approximately EUR ### million of Long-Term Debt Instruments Affected Frankfurt, October ##, #### -- Moody's...Metso Corporation600035231150.0000NewshtmlMetso CorporationPR_143207_600035231Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/610042spcred/610042normThe latest Summary from S&P10/29/2007 8:29:28 AMSummary175global610042FinlandIndustrial MachineryAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaGlobal IssuersCorporationsCapital GoodsSummaryThe ratings on Finland-based Metso Corp. reflect its satisfactory business profile, underpinned by leading market positions in its core businesses of pulp and paper machinery and rock and minerals processing; a geographically diversified earnings base; and improved operating performance. This is balanced by exposure to cyclical demand and price competition in both core businesses and limited end-user industry diversification. The financial risk profile is intermediate, in line with the rating level. At Sept. 30, 2007, Metso's adjusted debt was about €950 million (including estimated postretirement liabilities and operating leases of about €265 million, and a deduction of about €10 million in excess cash). Although underlying cash generation is strong, debt could increase due to potential share buybacks and acquisitions. Meanwhile,FIN92023220106020 201060 2010 20Metso Corp.336781ASIAEMERGINGEUROMIDAFRLATAMERICAMEO1V@FHSUMMARYGLOBISSCORPCapitalCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/596345spcred/596345normThe latest Summary from S&P8/15/2007 8:28:22 AMSummary175global596345FinlandIndustrial MachineryAsiaEmerging MarketsEurope, Middle East, AfricaLatin AmericaGlobal IssuersCorporationsCapital GoodsSummaryThe ratings on Finland-based Metso Corp. reflect its satisfactory business profile, underpinned by leading market positions in its core businesses of pulp and paper machinery and rock and minerals processing; a geographically diversified earnings base; and improved operating performance. This is balanced by exposure to cyclical demand and price competition in both core businesses and limited end-user industry diversification. The financial risk profile is intermediate, in line with the rating level. At June 30, 2007, Metso's adjusted debt reached about €1.06 billion (including estimated postretirement liabilities and operating leases of about €265 million, and a deduction of about €60 million in excess cash) following weak quarterly free cash generation and dividend payments. Although underlying cash generation is strong, debt couldFIN92023220106020 201060 2010 20Metso Corp.336781ASIAEMERGINGEUROMIDAFRLATAMERICAMEO1V@FHSUMMARYGLOBISSCORPCapitalCredit & Investment ResearchS&P Credit Research