Valmet Oyj announced that its merger with Neles Corp. was completed April 1. As a result, Neles has been dissolved and consolidated into Valmet.
“We are pleased that we can now start our journey together as a stronger Valmet,” Valmet President and CEO Pasi Laine said, as he welcomed the new Flow Control business line colleagues to the team. “Valmet now has a unique, even stronger offering for global process industries and a solid platform for further business growth especially in automation systems and flow control solutions.”
During July 2019, Metso Flow Control was spun out of the Metso-Outotec merger and renamed Neles. Valmet and Neles announced their intentions to merge during July 2021 with a targeted completion date of April 1, 2022. Neles employs 2,950 in 40 countries with sales of about EUR 611 million ($665 million) in 2021.
Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. It employs more than 14,000 people worldwide with net sales of EUR 3.9 billion ($4.3 billion) in 2021. Valmet’s head office is in Espoo, Finland, and its shares are listed on the Nasdaq Helsinki.