Tue, 07/06/2021 - 10:13
VANTAA, Finland - Valmet Oyj (Valmet) and Neles Corporation (Neles) announced that their respective Boards of Directors have today signed a combination agreement (the Combination Agreement) and a merger plan to combine the two companies through a merger (the Combined Company).
Transaction highlights
- The Combined Company will be a leading company with an offering for process industries globally with illustrative combined net sales for 2020 of approximately EUR 4.3 billion. In addition, it will have a globally balanced expert organization of approximately 17,000 professionals.
- The Combined Company expects to have growth potential in all current businesses and in new emerging sectors supported by favorable megatrends. It will also have enhanced growth opportunities across automation and flow control serving a range of various process industries with a strong sustainability focus. The Combined Company will benefit from broader revenue and cost synergies anchored in the strong industrial logic of combining flow control and automation systems.