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Metso to outsource development

The EU has approved a joint venture by Hansprint and Nokia that will enable Metso Corporation to outsource its development project.

The new company, Avantone Oy will develop and commercialize technologies and solutions for packaging, printing and marketing communications. The new enterprise will work to establish solutions for consumer packaging and printed media while combining digital content and services to packaging. The anticipated start up of the company will be after the procedural and approval processes have been completed.

Metso and Nokia each own an equal share of the Avantane Oy company, and therefore hold the majority of its shares. Metso’s IIkka Kesola will head the new outfit.