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Abengoa acquires Metso NMS, a leading company in technology applications for the energy industry

January 31, 2003

Abengoa, through its information technology subsidiary Telvent, today closed the acquisition of the Network Management Solutions Division of the multinational Metso Corporation, with the purchase of 100 % of its subsidiaries in Canada and the United States.

This operation will allow Abengoa to strengthen its world leadership position in the information technology sector and, at the same time, boost its Research, Development and Technological Innovation programme, a strategic part of its business plan, in which it has already invested, prior to the acquisition, over 15 million euro in the different areas of activity: bioenergy, environmental services, information technology and industrial engineering and construction.

The division acquired from Metso Corporation has maintained a continuous, fast-moving R&D programme, which will now be supplemented and promoted by Abengoa as part of its three-year Strategic Technological Innovation Plan, which it has implemented for its business segments.

The subsidiaries acquired from Metso Corporation, which will now be known as Telvent Canada and Telvent USA, report annual sales of USD 60 million and employ over 400 people at their permanent facilities in Calgary, Houston and Baltimore.

This new acquisition will also enable Telvent to strengthen its international leadership position in the control and information system market for the oil, gas and electricity industries and in the water market. Metso NMS has a select portfolio of technology applications, which manage over 75% of hydrocarbon movements over transmission networks in North America, using systems installed in around 500 locations worldwide, in addition to a select portfolio of customers featuring major international companies.

The most significant system applications include SCADA, which provides reliable, efficient, real-time management of energy production, transmission and distribution facilities, Liquids Suite for leak detection and location and Gas Suite for gas monitoring, measurement and accounting.

Abengoa, an industrial and technological company that provides solutions for sustainable development, the information and knowledge society and the creation of infrastructures, reported sales of 1151.9 million euro and after-tax profit attributable to the parent company of 31.4 million euro in the first nine months of 2002 (year-end figures for 2002 pending).

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