Valmet has completed the acquisition of Körber’s Business Area Tissue, the provider of process technologies and related services for converting tissue jumbo reels into final tissue products. The closing of the transaction follows the agreement in July.
By combining the complementary offering and competencies of Valmet and the acquired business, Valmet is creating a wide technology, automation and services offering for the growing tissue industry covering the entire tissue value chain from fibre to finished products.
Valmet notes in its press statement that the new Tissue Converting business will operate as a business unit integrated into its Paper business line. It focuses on delivering and serving converting lines for rolled and folded tissue products, packaging equipment and on providing digital solutions and services. The acquired business will enable Valmet to serve the tissue industry with wider expertise, process technologies and services covering end-to-end solutions including automation systems and flow control equipment.
“Today we are happy to welcome the market leader in tissue converting and close to 1,200 new dedicated colleagues to Valmet. The acquisition is a good strategic fit and complements Valmet’s tissue-making offering with strong expertise and complete solutions from tissue converting to packaging. By entering the tissue converting business, we take again a step forward with strengthened capabilities to serve our global customers even better,” commented Pasi Laine, president and CEO of Valmet, on the completion of the acquisition.
“Today marks the beginning of an important new chapter in our history, and we are very excited to be joining Valmet. Being part of Valmet will support the growth of our operations in the tissue converting business and allow us to boost innovative projects. Now we can be even closer to customers as a one-stop shop market leader,” said Oswaldo Cruz Junior, head of Tissue Converting business unit at Valmet.
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