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Valmet closes agreement to acquire FactoryPal shares
August 1, 2024 By P&PC Staff
On August 1, Valmet and Körber closed their agreement to further strengthen the digital solution FactoryPal. The agreement was announced earlier this year in May. FactoryPal is a software developed to improve shopfloor manufacturing performance and productivity.
After the closing of the agreement, Valmet now holds the majority of the shares. FactoryPal will continue operating as an own legal entity under existing brand. Valmet shared in a press statement that the addition of FactoryPal will further strengthen its offering of advanced industrial internet solutions and digital services to support customers in the tissue industry. The agreement follows Valmet’s acquisition of Körber Business Area Tissue that was completed in November 2023.
FactoryPal is designed to empower mill teams to achieve seamless operations by generating and using high-quality data combined with state-of-the-art user experience and advanced artificial intelligence (AI). Acting as an AI co-pilot, the application reportedly leverages data and AI to transform operational challenges into opportunities, optimizing many aspects of production.
“FactoryPal is an excellent complement to Valmet’s industrial internet solutions and digital services. With the addition of extensive competence and advanced digital services we can support tissue producers to further improve production efficiency and preventive actions. We are eager to take the next step in digitalization of tissue mills,” says Samppa Ahmaniemi, vice-president of Tissue Converting business unit at Valmet.
“Our partnership with Valmet marks a significant step towards becoming the leading AI-copilot for shop floors. By harnessing our combined expertise in machinery, process, and advanced digital and AI solutions, we are committed to delivering unparalleled customer value in Tissue and beyond,” says Nadja Hatzijordanou, CEO of FactoryPal.
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