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.”
BMG’s machine tools on show at Machine Tools Africa Bearing Man Group t/a BMG
News
BMG will be participating at the Machine Tools Africa exhibition. Its stand will showcase the company’s comprehensive range of quality branded tools and equipment, which has been carefully selected by specialists, to meet the exact requirements of customers in diverse sectors.
Read more...From the editor's desk: The digital deluge Technews Publishing (SA Instrumentation & Control)
News
One of the issues arising out of our newfound ability to generate our own electricity is the ability to store it. BESS systems are the order of the day, and we regularly run stories on this new development. ...
Read more...University of Pretoria unveils immersive technology laboratory
News
The University of Pretoria’s faculty of Engineering, Built Environment and Information Technology is proud to announce the launch of its new Immersive Technology Lab at the Department of Information Science. This cutting-edge facility marks a significant milestone in the university’s journey towards integrating advanced immersive technologies into its curriculum and research initiatives.
Read more...IS3 X-Change 2024 conference
News
X-Change is an annual gathering of tech enthusiasts, industry leaders and visionaries pushing the boundaries of innovation. Join IS3 for an immersive experience that celebrates the latest in technology and fosters networking opportunities, and discover how your organisation can benefit from AVEVA software and the IS3 industry solution partner ecosystem.
Read more...Exploring the role of AI in recruitment
News
In an era defined by rapid technological advancements, the integration of AI is proving to be transformative across various industries. Thankfully, and in contradiction to what many people believe, AI enhances many functions, rather than replacing real people.
Read more...Celebrating three decades of innovation in Africa's premier industrial software conference
News
With a rich 29-year history, the X-Change User Conference stands as Africa's largest and most prestigious annual gathering dedicated to industrial software and related technology. Hosted by Industry Software Solutions & Support (IS3), this year, X-Change 2024 promises to be even more impactful as it celebrates three decades of innovation and collaboration.
Read more...Schneider Electric announces 2023 Global Alliance Partner Programme award winners Schneider Electric South Africa
News
Schneider Electric has announced the winners of the 2023 Global Alliance Excellence Awards. Throughout 2023, Schneider Electric’s Alliance Partners supported customers in the digitalisation of industrial automation, delivering value with innovative initiatives, solutions and services.
printer friendly version