Valmet has completed the acquisition of PMP Group, a provider of technologies and services for the paper industry
Valmet Oyj’s press release on October 15, 2020 at 10:00 a.m. EET
Valmet has completed the acquisition of PMP Group in Poland following the agreement that was announced on September 11. PMP Group is a provider of technologies and services for the paper industry. The enterprise value of the acquisition is approximately EUR 64 million, plus a conditional and capped earn-out component.
The acquired business becomes a part of Valmet’s Paper business line. PMP Group supplies process technologies and services for tissue, board and paper machines globally, focusing on small and medium-sized tissue machines and board and paper machine rebuilds. The net sales of the company were approximately EUR 70 million in the fiscal year 2019. The company employs about 650 people in Poland, China, USA and Italy.
PMP will be included in Valmet’s financial reporting for the first time in Valmet’s fourth quarter financial reporting 2020.
Jari Vähäpesola, Business Line President, Paper, Valmet
“The acquisition was completed as planned and we are happy to welcome 650 new colleagues to Valmet. The combination of Valmet’s current paper technology and services for wide and fast machines and rebuilds, together with PMP’s product portfolio, competence and presence in strategic markets, will create new business opportunities. From now on we will work as one team with a wider product offering, to further strengthen our capabilities to serve paper, board and tissue producers globally.”
Mirosław Pietraszek, former President PMP Group:
“I am satisfied that the closing process has been completed successfully. It is a great moment to celebrate an opening of a new chapter in our history. I am convinced that together with Valmet, we will create a professional, unique and strong team across the globe to bring our customers a more comprehensive service span and state-of-the-art solutions. As a team, we are ready for new challenges and excited to become a part of Valmet.”
VALMET
Corporate Communications
For further information, please contact:
Jari Vähäpesola, Business Line President, Paper, Valmet, tel. +358 40 558 6555
Anu Salonsaari-Posti, SVP, Marketing and Communications, tel. +358 10 672 0000
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers.
Valmet's strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our advanced services and automation solutions improve the reliability and performance of our customers' processes and enhance the effective utilization of raw materials and energy.
Valmet's net sales in 2019 were approximately EUR 3.5 billion. Our more than 13,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward – every day. Valmet's head office is in Espoo, Finland and its shares are listed on the Nasdaq Helsinki.
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