News & Events

Metso Panelboard Divests Mineralboard and Hydro-Dyn Press Operations to U.S.-based Coe Manufacturing Company

Hannover (Germany), April 2002 - Metso Panelboard divests Mineralboard and Hydro-Dyn Press Operations to U.S. based Coe Manufacturing Company.

Metso Panelboard acquired this press and mineralboard technology when it purchased the panelboard operations of Kvaerner Panelboard in Hannover, Germany, and its former Bison Werke GmbH Company technologies.

This divestment is part of Metso Panelboard's strategy of streamlining its operations to focus on MDF, OSB and Particleboard operations.

Coe will utilize the Mineralboard line to develop strengths in the fiber cement markets and the Hydro-Dyn continuous press as a platform for improving its press technology in the North American markets.

Coe Manufacturing Company of Painesville, Ohio, celebrating its 150th year, is an independently owned, major international machinery systems and solutions provider to the veneer, lumber, panelboard, mineralboard, rubber and laminates industries. They operate three manufacturing facilities in North America with 500 employees.

Questions concerning this press release should be directed to:

Lennart Ohlsson
Vice President, Business Development
Metso Panelboard GmbH
Lohweg 8
D-30559 Hannover
Germany

Tel: (+49) 511 58979 281
Fax: (+49) 511 58979 212
E-mail: lennart.ohlsson@metso.com

Darryl J. Dillenback
President and CEO
Coe Manufacturing Company
609 Bank Street
Painesville, OH 44077

Tel: (440) 639-2100
Fax: (440) 639-9563
E-mail: ddillenback@coemfg.com

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