Corporation merged to form a new company. Initially called Valmet-Rauma Corporation, the name was changed to Metso Corporation in August 1999. At the time of the merger, Valmet was a paper and board machine supplier, while Rauma focused on fiber technology, rock crushing and flow control products. The merger produced an equipment supplier serving the process industry. Shares in Metso were listed on the Helsinki Stock Exchange, which replaced the listings of its predecessor companies. In 2000, Metso acquired Beloit Corporation's tissue and paper-making technology as well as its service operations in the United States and France. In December 2006, Metso completed the acquisition of the pulping and power businesses from Norwegian company Aker Kvaerner ASA. The acquisition aimed to further improve the company's ability to serve the pulp and paper industries as a turnkey delivery partner, and to respond to the business opportunities created by power generation and biomass technologies. At the end of 2009, Metso acquired Tamfelt Corporation, one of the world's leading suppliers of technical textiles. 2013– Valmet reborn On October 1, 2013, following a meeting, Metso was split into two companies: Valmet and Metso. After the demerger on December 31, 2013, the pulp, paper and power businesses of Metso formed the new Valmet Corporation, while the mining and construction and automation businesses remained with Metso. Jukka Viinanen became chairman of Valmet's board of directors. Viinanen had served as a member of Metso's board from 2008 to 2013, and as the chairman since 2009. In March 2015, Bo Risberg from Sweden replaced Jukka Viinanen as the chairman of Valmet's board of directors. Previously, Risberg had held a high position at ABB and the position of managing director at the construction supply company Hilti. He also holds positions of trust at Piab Holding, Grundfos Holding and Trelleborg, among others. The Members of the board are vice chairman Mikael von Frenckell, Lone Fønss Schrøder, Friederike Helfer, Pekka Lundmark, Erkki Pehu-Lehtonen and Rogerio Ziviani. Pekka Lundmark later resigned from the board after being nominated CEO of Fortum Corporation. In April 2015, Valmet introduced an automation systems business. Valmet completed a EUR 340 million transaction with Metso to purchase its process automation system and service unit (PAS). y. At the time of the transaction, the PAS unit employed 1,600 people, and its net sales totaled EUR 300 million in 2013. In July 2015, Valmet announced the acquisition of Massimiliano Corsini's tissue