Valmet and Neles merge into one company
The Boards of Valmet and Neles have signed a merger agreement.
According to Valmet, the new company will become a leading provider of unique value propositions for process industries worldwide .
The merger is expected to generate an annual synergy of approximately € 25 million, according to press releases.
The two companies had combined turnover of just over € 4 billion last year. Implementation of the contract should take place early next year, if all conditions are met.
Following the merger, Valmet CEO Pasi Laine will continue as CEO of the combined company.
Valmet is a designer and manufacturer of automation equipment for the pulp, paper and energy industries.
Neles is a provider of mission-critical flow control solutions and services for process industries.