Valmet has completed the acquisition of Process Automation Systems
May 2015
News
Valmet has completed the acquisition of Process Automation Systems business from Metso, announced on January 15, 2015. Valmet has received the necessary approvals from the competition authorities. The enterprise value of the acquisition is EUR 340 million, and it is financed with committed long-term financing.
According to Valmet’s new organisational structure, the acquired business forms Valmet’s fourth business line, Automation. Valmet will continue to report its financial results as one segment, and Automation business line will be included in reporting starting from April-June 2015 Interim Review. Orders received, net sales and personnel will be reported for all business lines and areas with Mr. Sakari Ruotsalainen appointed as president of Automation business line.
The completion of the acquisition has no effect on Valmet’s guidance given on February 6. Valmet estimates that, including the acquisition of Process Automation Systems, net sales in 2015 will increase in comparison with 2014 (EUR 2,473 million) and EBITA before non-recurring items in 2015 will increase in comparison with 2014 (EUR 106 million).
“The acquisition was completed according to plan, and we welcome approximately 1600 new colleagues to Valmet. We are now a technology and service company with full automation offering. The unique combination of Valmet’s technology, process know-how and automation offers good possibilities to serve our customers even better,” said Pasi Laine, president and CEO of Valmet.
For more information contact Hugh Heine, Valmet, +27 (0)31 502 9350, [email protected], www.valmet.com
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