<B>Valmet Closes Acquisition of Beloit</B>

Valmet, the fiber and paper technology business area of Metso Corp. closed the final acquisition of the services and after-market assets of bankrupt paper machinery manufacturer Beloit Corp. Valmet says that the price has been paid, as agreed, on the closing date, May 11, as the businesses were transferred to Metso Corp.

Valmet is a leading world supplier of technology, systems, and equipment for the pulp, paper, converting, and panelboard industries.