|Exhibit 8.1
|-----------



|SUBSIDIARIES OF METSO CORPORATION
|---------------------------------

|Name                                        | Country of Incorporation | Ownership %
|------------------------------------------- | ------------------------ | -----------
|                                           
|AAF Controle Ambiental Ltda                 | Brazil                   | 100        
|Allis Mineral Systems (UK)
        Ltd      | United Kingdom           | 100        
|Allis Mineral Systems Inc                   | United States            | 100        
|Allis-Chalmers Ltd                          | United Kingdom           | 100        
|Allodium AB                                 | Sweden                   | 100        
|Babbitless Co (Great Britain)
        Ltd   | United Kingdom           | 100        
|Bothnia P & P Oy                            | Finland                  | 100        
|Brahan Millar Ltd                           | United Kingdom           | 100        
|Burleigh Marine International Ltd           | United Kingdom           | 100        
|Cable Belt Conveyors Pty Ltd                | South Africa             | 100        
|Charlestown Engineering Ltd                 | United Kingdom           | 100        
|Componenta International (UK)
        Ltd   | United Kingdom           | 100        
|Compusystems Oy                             | Finland                  | 60         
|Conrad Scholtz Ltd                          | United Kingdom           | 100        
|Construcciones Y Estudios Industriales S.A. | Spain                    | 100        
|Denver Process Equipment Ltd                | United Kingdom           | 100        
|Denver UK (Holdings) Ltd                    | United Kingdom           | 100        
|Dorana Vierte Verwaltungs GmbH              | Germany                  | 100        
|Drowsy Sweden
        Holding AB            | Sweden                   | 100        
|Dynapac (UK)
        Ltd                    | United Kingdom           | 100        
|E-Metso Oy                                  | Finland                  | 100        
|Etix (UK) Ltd                               | United Kingdom           | 100        
|Etix SA                                     | France                   | 100        
|Farros Blatter AG                           | Switzerland              | 100        
|Finbow Oy                                   | Finland                  | 100        
|Goodwin Barsby Ltd                          | United Kingdom           | 100        
|Inmobiliria Los Retamos Ltda                | Chile                    | 80         
|Jamesbury de Mexico SA de CV                | Mexico                   | 100        
|Jamesbury Shanghai Valve (USA)
        Inc  | United States            | 100        
|Kato Cranes (UK)
        Ltd                | United Kingdom           | 100        
|Kaukotalo Oy                                | Finland                  | 100        
|Kauttuan Automaatio- ja Sähköpalvelu Oy(1)  | Finland                  | 100        
|Kiinteistö Oy Kaarihalli                    | Finland                  | 100        
|Kiinteistö Oy Levyhalli                     | Finland                  | 100        
|Lindemann (UK) Ltd                          | United Kingdom           | 100        
|Lindemann Recycling Equipment Inc           | United States            | 100        
|Lolab Verkstad AB                           | Sweden                   | 100        
|Loro & Parisini SpA                         | Italy                    | 100        
|Max Control Systems Ltd.                    | United Kingdom           | 100        
|Metso  SHI Co. Ltd                         | Japan                    | 65         
|Metso (Asia-Pacific) Pte Ltd                | Singapore                | 100        
|Metso Automation (ANZ) Pty Ltd              | Australia                | 100        
|Metso Automation (Shanghai)
        Co. Ltd | P.R. China               | 100        



|1
|-

---

|Name | Country of Incorporation | Ownership %
|---- | ------------------------ | -----------
|    

|Metso Automation A/S                                                   | Norway               | 100
|---------------------------------------------------------------------- | -------------------- | ---
|Metso Automation AB                                                    | Sweden               | 100
|Metso Automation BV                                                    | The Netherlands      | 100
|Metso Automation Canada Ltd                                            | Canada               | 100
|Metso Automation Chile
        Ltda                                    | Chile                | 100
|Metso Automation Co Ltd                                                | Thailand             | 100
|Metso Automation de Mexico S.A. de C.V.(2)                             | Mexico               | 100
|Metso Automation do Brasil Ltda                                        | Brazil               | 100
|Metso Automation Espana SA                                             | Spain                | 100
|Metso Automation FZE (Dubai)                                           | United Arab Emirates | 100
|Metso Automation GesmbH                                                | Austria              | 100
|Metso Automation GmbH                                                  | Germany              | 100
|Metso Automation Holding BV                                            | The Netherlands      | 100
|Metso Automation India Pvt Ltd                                         | India                | 100
|Metso Automation KK                                                    | Japan                | 100
|Metso Automation Korea Ltd                                             | South Korea          | 100
|Metso Automation Ltd                                                   | United Kingdom       | 100
|Metso Automation Max Controls Inc.                                     | United States        | 100
|Metso Automation Oy                                                    | Finland              | 100
|Metso Automation Polska Sp. z o.o.                                     | Poland               | 100
|Metso Automation Portugal,
        Lda                                 | Portugal             | 100
|Metso Automation Projects Oy                                           | Finland              | 100
|Metso Automation Pte Ltd                                               | Singapore            | 100
|Metso Automation RSA (Pty) Ltd                                         | South Africa         | 100
|Metso Automation S.A.S.                                                | France               | 100
|Metso Automation s.r.o.                                                | Czech Republic       | 100
|Metso Automation SA NV                                                 | Belgium              | 100
|Metso Automation SCADA  Solutions AG(3)                                | Switzerland          | 100
|Metso Automation SpA                                                   | Italy                | 100
|Metso Automation USA Inc                                               | United States        | 100
|Metso Brazil Indústria e Comércio Ltda                                 | Brazil               | 100
|Metso Canada Ltd                                                       | Canada               | 100
|Metso Capital Oy                                                       | Finland              | 100
|Metso Captive Insurance Limited                                        | United Kingdom       | 100
|Metso Company USA
        Business Trust                               | United States        | 100
|Metso Composites Oy                                                    | Finland              | 100
|Metso Concrete SnC                                                     | France               | 100
|Metso Construction Equipment AB                                        | Sweden               | 100
|Metso Control CAD Oy                                                   | Finland              | 100
|Metso Drives AB                                                        | Sweden               | 100
|Metso Drives GmbH                                                      | Germany              | 100
|Metso Drives Inc.                                                      | United States        | 100
|Metso Drives Ltd                                                       | Canada               | 100
|Metso Drives Oy                                                        | Finland              | 100
|Metso Dynapac (China)
        Compaction and Paving Equipment Co. Ltd. | P.R. China           | 100
|Metso Dynapac (France)
        SnC                                     | France               | 100



| | 2 | 
| | - | 



---



|Name | Country of Incorporation | Ownership %
|---- | ------------------------ | -----------
|    

|Metso Dynapac (Tianjin)
        International Trading Co. Ltd | P.R. China      | 100  
|------------------------------------------------------------- | --------------- | -----
|Metso Dynapac AB                                              | Sweden          | 100  
|Metso Dynapac Construction Equipment Ltd                      | United Kingdom  | 100  
|Metso Dynapac GmbH                                            | Germany         | 100  
|Metso Dynapac HOES GmbH                                       | Germany         | 100  
|Metso Dynapac International AB                                | Sweden          | 100  
|Metso Endress+Hauser Oy                                       | Finland         | 90   
|Metso Engineering Oy                                          | Finland         | 100  
|Metso Foundries Jyväskylä Oy                                  | Finland         | 100  
|Metso Foundries Karlstad AB                                   | Sweden          | 100  
|Metso Lindemann GmbH                                          | Germany         | 100  
|Metso Lokomo Steels Oy                                        | Finland         | 100  
|Metso Minerals (Argentina) S.A.                               | Argentina       | 100  
|Metso Minerals (Asia-Pacific) Pte Ltd                         | Singapore       | 100  
|Metso Minerals (Asia-Pacific) Pty Ltd                         | Australia       | 100  
|Metso Minerals (Australia) Ltd                                | Australia       | 100  
|Metso Minerals (Austria) GmbH                                 | Austria         | 100  
|Metso Minerals (Belux) SA                                     | Belgium         | 100  
|Metso Minerals (Canada)
        Ltd                           | Canada          | 100  
|Metso Minerals (Cappagh) Ltd                                  | United Kingdom  | 100  
|Metso Minerals (Chile) SA                                     | Chile           | 100  
|Metso Minerals (Cisa) SA                                      | France          | 51   
|Metso Minerals (Czech Republic)
        s.r.o.                | Czech Republic  | 100  
|Metso Minerals (Denmark)
        A/S                          | Denmark         | 100  
|Metso Minerals (Dordrecht)
        BV                         | The Netherlands | 100  
|Metso Minerals (Finland) Oy                                   | Finland         | 100  
|Metso Minerals (France)
        S.A.S                         | France          | 99.99
|Metso Minerals (Germany)
        GmbH                         | Germany         | 100  
|Metso Minerals (Ghana)
        Ltd                            | Ghana           | 100  
|Metso Minerals (Grenoble) SA                                  | France          | 100  
|Metso Minerals (Hong Kong) Ltd                                | Hong Kong       | 100  
|Metso Minerals (Hungary) Kft                                  | Hungary         | 100  
|Metso Minerals (Irapuato) SA de CV                            | Mexico          | 100  
|Metso Minerals (Italy) SpA                                    | Italy           | 100  
|Metso Minerals (Johannesburg) (Pty) Ltd                       | South Africa    | 100  
|Metso Minerals (Ketsch) GmbH                                  | Germany         | 100  
|Metso Minerals (Kiruna) AB                                    | Sweden          | 100  
|Metso Minerals (Kongsvinger) A/S(4)                           | Norway          | 100  
|Metso Minerals (Lebanon)
        s.a.r.l.                     | Lebanon         | 100  
|Metso Minerals (Macon)
        S.A                            | France          | 100  
|Metso Minerals (Malaysia)
        Sdn Bhd                     | Malaysia        | 100  
|Metso Minerals (Matamata) Ltd                                 | New Zealand     | 100  
|Metso Minerals (Mexico) SA de CV                              | Mexico          | 100  
|Metso Minerals (Moers)
        GmbH                           | Germany         | 100  
|Metso Minerals (Mumbai) Private Ltd                           | India           | 100  
|Metso Minerals (Netherlands)
        BV                       | The Netherlands | 100  





| | 3 | 
| | - | 



---



|Name | Country of Incorporation | Ownership %
|---- | ------------------------ | -----------
|    

|Metso Minerals (New Delhi)
        Private Ltd      | India             | 100 
|--------------------------------------------------- | ----------------- | ----
|Metso Minerals (New Zealand)
        Ltd            | New Zealand       | 100 
|Metso Minerals (Norway)
        A/S                 | Norway            | 100 
|Metso Minerals (Peru)
        SA                    | Peru              | 100 
|Metso Minerals (Philippines)
        Inc.           | Philippines       | 100 
|Metso Minerals (Poland)
        Sp. z o.o.          | Poland            | 100 
|Metso Minerals (Portugal)
        Lda               | Portugal          | 100 
|Metso Minerals (Property) GmbH                      | Germany           | 100 
|Metso Minerals (Pyrotherm) Pty Ltd                  | Australia         | 100 
|Metso Minerals (Sala) AB                            | Sweden            | 100 
|Metso Minerals (Singapore) Pte Ltd                  | Singapore         | 100 
|Metso Minerals (Skellefteå) AB                      | Sweden            | 100 
|Metso Minerals (South Africa)
        Pty Ltd       | South Africa      | 100 
|Metso Minerals (Sweden)
        AB                  | Sweden            | 100 
|Metso Minerals (Switzerland)
        AG             | Switzerland       | 100 
|Metso Minerals (Tampere)
        Oy                 | Finland           | 100 
|Metso Minerals (Thailand)
        Co. Ltd           | Thailand          | 100 
|Metso Minerals (Tianjin)
        Co. Ltd            | P.R. China        | 100 
|Metso Minerals (Tournan) SnC                        | France            | 100 
|Metso Minerals (Trelleborg) AB                      | Sweden            | 100 
|Metso Minerals (Trellex) SA                         | France            | 100 
|Metso Minerals (UK)
        Ltd                     | United Kingdom    | 100 
|Metso Minerals (Wear Protection) Ltd                | Australia         | 100 
|Metso Minerals (Yugoslavia) Ltd                     | Serbia-Montenegro | 100 
|Metso Minerals (Zambia) Ltd                         | Zambia            | 100 
|Metso Minerals (Zimbabwe) PVT Ltd                   | Zimbabwe          | 100 
|Metso Minerals Canada Inc.                          | Canada            | 100 
|Metso Minerals Chilean Holding Co.                  | Chile             | 100 
|Metso Minerals Dis Ticaret Limited Sirketi          | Turkey            | 99.8
|Metso Minerals Espana SA                            | Spain             | 100 
|Metso Minerals Europa Holding AB                    | Sweden            | 100 
|Metso Minerals Holding (Germany)
        GmbH       | Germany           | 100 
|Metso Minerals Holding AB                           | Sweden            | 100 
|Metso Minerals Holdings Inc                         | United States     | 100 
|Metso Minerals Industries Inc.                      | United States     | 100 
|Metso Minerals International B.V.                   | The Netherlands   | 100 
|Metso Minerals Investment Holdings (SA)(Pty) Ltd    | South Africa      | 100 
|Metso Minerals Japan Co. Ltd                        | Japan             | 100 
|Metso Minerals Manufacturing Canada Inc             | Canada            | 100 
|Metso Minerals  Middle East  (Cyprys)
        Ltd   | Cyprus            | 100 
|Metso Minerals Oy                                   | Finland           | 100 
|Metso Minerals Pty Ltd                              | Australia         | 100 
|Metso Minerals Reedrill (Australia)
        Pty Ltd | Australia         | 100 
|Metso Minerals Skega Pty Ltd                        | Australia         | 100 
|Metso Minerals Systems AB                           | Sweden            | 100 
|Metso Minerals Vantaa Oy                            | Finland           | 100 





| | 4 | 
| | - | 



---



|Name | Country of Incorporation | Ownership %
|---- | ------------------------ | -----------
|    

|Metso Minerals Vibratechnique SnC                               | France         | 100
|--------------------------------------------------------------- | -------------- | ---
|Metso ND
        Engineering (Pty) Ltd                          | South Africa   | 100
|Metso Panelboard AB                                             | Sweden         | 100
|Metso Panelboard GmbH                                           | Germany        | 100
|Metso Panelboard Ltd                                            | New Zealand    | 100
|Metso Panelboard Oy                                             | Finland        | 100
|Metso Paper (ANZ) Pty. Ltd.                                     | Australia      | 100
|Metso Paper (China) Co. Ltd.                                    | P.R. China     | 100
|Metso Paper (Thailand)
        Co., Ltd                         | Thailand       | 100
|Metso Paper AG                                                  | Switzerland    | 100
|Metso Paper Asesosias Tecnicas S.A.                             | Chile          | 100
|Metso Paper Brasil Empreendimentos e
        Participacões Ltda | Brazil         | 100
|Metso Paper Como S.p.A.                                         | Italy          | 100
|Metso Paper Czech Republic s.r.o.                               | Czech Republic | 100
|Metso Paper Deutschland GmbH                                    | Germany        | 100
|Metso Paper GesmbH                                              | Austria        | 100
|Metso Paper GmbH                                                | Germany        | 100
|Metso Paper Gorizia S.p.A.                                      | Italy          | 100
|Metso Paper Karlstad AB                                         | Sweden         | 100
|Metso Paper KK.                                                 | Japan          | 100
|Metso Paper Korea Inc.                                          | South Korea    | 100
|Metso Paper Limited                                             | United Kingdom | 100
|Metso Paper Ltd                                                 | Canada         | 100
|Metso Paper Oy                                                  | Finland        | 100
|Metso Paper Pori Oy                                             | Finland        | 100
|Metso Paper S.A.                                                | Spain          | 100
|Metso Paper S.A.                                                | Chile          | 100
|Metso Paper SAS                                                 | France         | 100
|Metso Paper Service (ANZ) Pty. Ltd                              | Australia      | 100
|Metso Paper Service SA                                          | France         | 100
|Metso Paper Skandinavien AB                                     | Sweden         | 100
|Metso Paper South Africa
        (Pty) Ltd                      | South Africa   | 100
|Metso Paper Sundsvall AB                                        | Sweden         | 100
|Metso Paper Turku
        Works Oy                              | Finland        | 100
|Metso Paper USA Inc.                                            | United States  | 100
|Metso Paper Valkeakoski Oy                                      | Finland        | 100
|Metso Paper ZAO                                                 | Russia         | 100
|Metso PaperChem GmbH                                            | Germany        | 100
|Metso PaperChem Oy                                              | Finland        | 100
|Metso Positioner Manufacturing Oy                               | Finland        | 100
|Metso Powdermet AB                                              | Sweden         | 100
|Metso Powdermet Oy                                              | Finland        | 100
|Metso Refiner Segments AB                                       | Sweden         | 100
|Metso Screen Plates AB                                          | Sweden         | 100
|Metso Svenska AB                                                | Sweden         | 100
|Metso USA Inc.                                                  | United States  | 100



| | 5 | 
| | - | 



---



|Name | Country of Incorporation | Ownership %
|---- | ------------------------ | -----------
|    

|Metso Valve Manufacturing Oy               | Finland         | 100
|------------------------------------------ | --------------- | ---
|Midi Machinery SA(5)                       | Switzerland     | 100
|Neles Automation CA                        | Venezuela       | 100
|Neles Controls Ltd                         | United Kingdom  | 100
|Neles-Jamesbury Inc.                       | United States   | 100
|Nordberg Mills (Sweden)
        AB         | Sweden          | 100
|Norsalta Ltd                               | United Kingdom  | 100
|Orion Pumps Ltd                            | United Kingdom  | 100
|Oy Skega AB                                | Finland         | 100
|Paper Mill Service Kauttua Oy(1)           | Finland         | 100
|Pinaltek Oy                                | Finland         | 100
|Porin Hallintopalvelut Oy                  | Finland         | 100
|PT Metso Automation                        | Indonesia       | 100
|PT Metso Paper Indonesia Ltda              | Indonesia       | 100
|Qualico Prozessuberwachungssysteme GmbH(6) | Germany         | 100
|Roval S.A.R.L.                             | France          | 100
|Sako Kiinteistöt Oy                        | Finland         | 100
|Sala (UK) Ltd                              | United Kingdom  | 100
|Scandinavian Mill Service A/S              | Norway          | 100
|Scandinavian Mill Service AB               | Sweden          | 100
|Scandinavian Mill Service  Czech s.r.o     | Czech Republic  | 100
|Scandinavian Mill Service Oy               | Finland         | 100
|SFR Stg 1626 KB                            | Sweden          | 100
|Skega Ltd                                  | United Kingdom  | 100
|Skega (Pty) Ltd                            | South Africa    | 100
|StoneL Corporation                         | United States   | 100
|Svedala (Malaysia) Sdn Bhd                 | Malaysia        | 100
|Svedala (Philippines)
        Inc          | The Philippines | 100
|Svedala Barmac Ltd                         | United Kingdom  | 100
|Svedala de Mexico SA de CV                 | Mexico          | 100
|Svedala Faco Ltda                          | Brazil          | 100
|Svedala Holding SA de CV                   | Mexico          | 100
|Svedala Inc                                | United States   | 100
|Svedala Kran AB                            | Sweden          | 100
|Svedala Lindemann Ltd                      | United Kingdom  | 100
|Svedala LMV UK Ltd                         | United Kingdom  | 100
|Svedala Loro Parisini SA                   | France          | 100
|Svedala Ltd                                | United Kingdom  | 100
|Svedala Manufacturing Sdn Bhd              | Malaysia        | 100
|Svedala MFG SA de CV                       | Mexico          | 100
|Svedala Mining Supplies Pte Ltd            | Singapore       | 100
|Svedala Services Inc                       | United States   | 100
|Svedala Singapore Pte Ltd                  | Singapore       | 100
|Svedala Treasury SA                        | Switzerland     | 100
|Tidco Croft Ltd                            | United Kingdom  | 100
|Trellex Ltd                                | United Kingdom  | 100



| | 6 | 
| | - | 



---



|Name | Country of Incorporation | Ownership %
|---- | ------------------------ | -----------
|    

|Uhab Industrigummering AB              | Sweden         | 81 
|-------------------------------------- | -------------- | ---
|Valmet (SEA) Pte. Ltd.                 | Singapore      | 100
|Valmet Atlas plc(5)                    | United Kingdom | 100
|Valmet Automotive Oy                   | Finland        | 90 
|Valmet Converting Center GmbH(5)       | Germany        | 100
|Valmet Converting FraBeLux S.A.R.L.(5) | France         | 100
|Valmet Converting Iberica S.A.(5)      | Spain          | 100
|Valmet Converting Inc.                 | United States  | 100
|Valmet Converting PLC                  | United Kingdom | 100
|Valmet Defibrator A/S                  | Norway         | 100
|Valmet Dura Oy                         | Finland        | 60 
|Valmet Dura USA Inc.                   | United States  | 60 
|Valmet Flootek AB                      | Sweden         | 100
|Valmet General Ltd(5)                  | United Kingdom | 100
|Valmet Rotomec S.p.A(5)                | Italy          | 100
|Valmet Trading Co., Ltd (Shanghai)     | P.R. China     | 100
|Valvcon Corporation                    | United States  | 100
|VVN Solutions GmbH                     | Germany        | 51 
|W.S.Tyler Inc.(7)                      | United States  | 100
|Weda Pump (UK)
        Ltd             | United Kingdom | 100
|ZAO Metso Minerals (CIS)               | Russia         | 100
|ZAO Metso Minerals (Leasing CIS)       | Russia         | 100
|ZAO Metso Minerals (Rus DC)            | Russia         | 100
|ZAO Metso Minerals (Ural)              | Russia         | 100

|
|

|(1) |  | Acquired
on January 31, 2004.
|--- |  | -----------------------------

|(2) |  | Merged
into Jamesbury de Mexico SA de CV in January 2004.
|--- |  | ---------------------------------------------------------

|(3) |  | Liquidated
in  February 2004.
|--- |  | -----------------------------

|(4) |  | Merged into Metso Minerals (Norway) A/S on January
      1, 2004.
|--- |  | -----------------------------------------------------------------
|(5) |  | Sold on January 30, 2004.                                        

|(6) |  | Liquidated
in February 2004.
|--- |  | ----------------------------

|(7) |  | Merged
into Metso Minerals Industries Inc. on January 1, 2004.
|--- |  | --------------------------------------------------------------



| | 7 | 
| | - | 



---