News


Valmet and Neles to merge

August 2021 News

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.”


Credit(s)



Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

New chief marketing and communications officer joins Zutari
News
Leading consulting engineering and infrastructure advisory firm, Zutari, has appointed Zipporah Maubane as chief marketing and communications officer for Africa and the Middle East (AME).    The company ...

Read more...
Women thrive at the coalface of BI’s sales and customer service
Bearings International News
“Do not compare yourself to others. Work hard, as no job is beneath you. Soak up the knowledge available to you. Do not be discouraged or demotivated.”

Read more...
More women to be capped at MUT’s Women’s Month graduation
News
All told, 990 women will graduate from the Faculty of Management Sciences, 308 from the Faculty of Natural Sciences, and 310 from the Faculty of Engineering.

Read more...
Hitachi Energy is championing its Diversity 360 approach
News
In recognition of Women’s Month, the company highlighted the achievements of exceptional local female talent by profiling three leading women who form part of the company’s South African operations.

Read more...
LTM garners prestigious global ‘green energy’ award
News
The company was awarded for the AEE Innovator of 2022 the Enhanced Smart Utility Management System (eSUMS), which helps clients reduce their utility costs and boost their climate change mitigation contribution.

Read more...
Attaining a sustainable legacy
Technews Publishing (SA Instrumentation & Control) Editor's Choice News
Through this quagmire of crises and uncertainties, the wheels of industry must continue to turn if we are to sustain our modern way of life, and those wheels are, either directly or indirectly, powered by electricity.

Read more...
From the editor's desk: Today’s seed, tomorrow’s shade
Technews Publishing (SA Instrumentation & Control) News
Today’s captains of industry did not create the environmental problems we face, but they inherited this poisoned chalice and so it falls upon them to rinse it clean.

Read more...
From Industry 4.0 to Industry Green.0
Rockwell Automation Editor's Choice News
As sustainability becomes a business imperative for manufacturing organisations, they must incorporate sustainability goals into every step of the business lifecycle – because purpose and profit must go hand in hand.

Read more...
Strong order intake, record revenues for Atlas Copco
News
The demand for Atlas Copco’s products and services remained high for the second quarter of 2022, and order volumes increased markedly in all business areas compared to the previous year.

Read more...
Zest WEG poised for African growth
Zest WEG Group Africa News
Zest WEG’s drive on local manufacture and local sourcing is consistent with WEG’s global approach of maximising local content and procurement wherever possible.

Read more...