Valmet purchasing process automation business from Metso
Only a year after Metso split the company’s pulp and paper business from its process automation operations, the two will be reunited. Valmet Corp. (formerly Metso’s pulp and paper business) has agreed to purchase Metso's Process...
January 21, 2015 By Pulp & Paper Canada
Only a year after Metso split the company’s pulp and paper business from its process automation operations, the two will be reunited. Valmet Corp. (formerly Metso’s pulp and paper business) has agreed to purchase Metso’s Process Automation Systems business.
The business Valmet is acquiring supplies process automation and information management systems and related applications and services to the pulp, paper, energy and other process industries.
“Through the acquisition of Process Automation Systems, Valmet will become a technology and service company with full automation offering. The acquisition will help Valmet in increasing its business stability, while also improving profitability,” says Pasi Laine, president and CEO of Valmet.
Approximately 80% of Process Automation Systems sales comes from Valmet’s current customer industries, and the rest from other process industry clients. The PAS business is a market leader in process automation solutions for the pulp, paper and power industries, with an extensive range of products covering automation and quality control systems, analyzers and measurements and related services. The business employs about 1,600 automation professionals at approximately 80 locations around the world.
The enterprise value of the acquisition is EUR 340 million. It is expected to be completed by April 1, 2015, subject to approval by the competition authorities
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