Valmet Oyj and Neles Corporation have announced that their respective boards of directors have signed a combination agreement and a merger plan to combine the two companies through a merger. The combined company will be a leader with a unique offering for process industries globally with illustrative combined net sales for 2020 of approximately €4.3 billion. In addition, it will have a globally balanced expert organisation of approximately 17 000 professionals.
The new company expects to have growth potential in all current businesses and in new emerging sectors supported by favourable megatrends. It will also have enhanced growth opportunities across automation and flow control, serving a range of process industries with a strong sustainability focus. It will also benefit from broader revenue and cost synergies anchored in the strong industrial logic of combining flow control and automation systems. The combination is expected to generate annual run-rate synergies of approximately €25 million of which approximately 60% is expected to be achieved by 2023 and approximately 90% by 2024.
Valmet chairman, Mikael Mäkinen said: “The combination of Valmet and Neles will create a broad and competitive product offering for our customers and build on the excellent reputation of both of our businesses. The transaction creates a global industrial leader with a bright future beyond what we could achieve separately. Together our businesses are better positioned to drive innovation and leadership in sustainability.”
Neles Chairman, Jaakko Eskola said: “The common heritage of Valmet and Neles will allow for a smooth integration of our two companies to the benefit of shareholders, customers and employees. Neles will benefit from enhanced scale to accelerate its growth and building on the excellent work done by Neles management since the formation of Neles as an independent company in 2020.”
Going Green initiative sees African Group Lubricants adopt electric forklift fleet
News
African Group Lubricants is transitioning most of its forklift fleet to electric power, a move expected to cut diesel consumption by around 85% and improve conditions across its manufacturing facility while delivering a positive return on investment in the near term.
Read more...Africa Energy Indaba 2027 aims to ignite the power revolution
News
Africa Energy Indaba 2027 takes place from 2 to 4 March 2027 at the Cape Town International Convention Centre, bringing together ministers, utilities, investors and developers to accelerate energy generation, unlock investment and drive the continent’s industrial future.
Read more...Major bearing tender for SKF SKF South Africa
News
SKF has secured a major bearing supply tender from an Algerian steelmaker, reinforcing its position in the metals segment across North Africa.
Read more...Closing the energy efficiency gap at SKF’s Tech & Innovation Summit SKF South Africa
News
SKF is hosting its yearly virtual Tech & Innovation Summit, bringing together industry leaders and experts to showcase technologies, products and solutions designed to help close the energy efficiency gap in industrial operations.
Read more...From the editor's desk: The science of copying nature Technews Publishing (SA Instrumentation & Control)
News
Some extreme weather we experienced recently has left me looking at nature with renewed awe. It also made me think about the inventions that we use every day that have been inspired by nature, especially ...
Read more...New partnership between Delta Electronics and Conical Technologies Conical Technologies
News
Conical Technologies has announced a new distribution partnership with Delta Electronics by adding a comprehensive range of Delta power supplies to its industrial product portfolio for customers across southern Africa.
Read more...Africa’s AI ambitions face critical infrastructure questions Schneider Electric South Africa
News
As AI investment accelerates globally, Africa is increasingly being viewed as the industry’s next major growth frontier. The continent’s AI ambitions will ultimately depend on its ability to solve one critical challenge: infrastructure readiness.
While every effort has been made to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors contained, or any loss incurred as a result. Articles published do not necessarily reflect the views of the publishers. The editor reserves the right to alter or cut copy. Articles submitted are deemed to have been cleared for publication. Advertisements and company contact details are published as provided by the advertiser. Technews Publishing (Pty) Ltd cannot be held responsible for the accuracy or veracity of supplied material.
printer friendly version