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Valmet

From Alfawiki
Valmet Oyj
Company typePublic company
IndustryProcess technology, Automation, Energy, Pulp and paper industry
Founded1951
Headquarters
Finland
Key people
Thomas Hinnerskov (President and CEO, from September 2024)
ProductsProcess technologies, automation solutions, flow control products
Number of employees
17000 (2022)
Websitewww.valmet.com

Valmet Oyj is a Finnish enterprise specializing in the development and provision of process technologies, automation solutions, and related services tailored for the pulp, paper, and energy sectors. Its flow control segment extends its offerings to a broader range of process industries.

1999–2012: Formation of Metso through Valmet and Rauma merger

In late 2009, Metso expanded its portfolio by acquiring Tamfelt Corporation, a globally recognized supplier of technical textiles.[1][2]

Valmet from 2020 onwards

Main article: Neles

In June 2020, Neles was separated from Metso, with the Finnish State divesting its 15% stake to Valmet.[3] Shortly thereafter, in mid-July, Swedish firm Alfa Laval submitted a bid to acquire Neles. Concurrently, Valmet began purchasing shares in Neles and by autumn had accumulated nearly 30% ownership. Alfa Laval's takeover proposal garnered support from only about one-third of Neles shareholders, leading to its withdrawal in November.[3]

In January 2021, Valmet announced plans to equip Renewcell's mills in Sweden with machinery designed for producing dissolving pulp using recycled textiles.[4] By May, Valmet revealed it would supply drying technology to Spinnova, a company manufacturing textile fibers from cellulose.[4] The demand for Valmet's textile industry equipment is rising across Europe due to EU mandates requiring organized collection of discarded textiles for recycling by 2025. Having collaborated with Renewcell for several years on recycling technologies, the two companies jointly established a pilot facility and a production plant in Sundsvall.[4] In July 2021, Valmet and Neles reached an agreement to merge.[5] Following the merger, Neles shareholders received an 18.8% stake in the combined entity. The transaction was expected to yield significant synergies; Neles would enhance sales in automation systems while also expanding product offerings within the paper industry.[3]

The integration of Neles into Valmet was finalized in April 2022, establishing it as the company's fifth division known as Flow Control.[6] Several executives and staff members from both companies had prior experience working together during their time at Metso. Post-merger, the workforce numbered approximately 17,000 employees, including around 3,000 from Neles.[7]

In February 2024, it was declared that Pasi Laine would retire from his role as President and CEO at the end of September that year. The board appointed Thomas Hinnerskov, previously CEO of Mediq in Denmark, as his successor.[8]

In October 2024, Valmet announced a reduction of 112 positions aimed at enhancing the "profitability and competitiveness" of its operations.[9] This decision followed a net profit of €157 million reported for the first half of 2024.[10]

See also

References

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