Valmet Oyj's press release on September 11, 2020 at 3:30 p.m. EET
Valmet has on September 11, 2020 entered into an agreement to acquire PMP Group in Poland. The enterprise value of the acquisition is approximately EUR 64 million, plus a conditional and capped earn-out component. The acquisition is estimated to be completed on October 1, 2020 at the earliest.
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, the majority of whom are located in Poland and the rest in China, USA and Italy.
Jari Vähäpesola, Business Line President, Paper in Valmet:
"The acquisition will bring two companies with different offerings and customer segments together. PMP's technology and services portfolio for small and medium-sized tissue, board and paper machines will be a very good complement to Valmet's current paper technology and services for wide and fast machines and rebuilds. Together with PMP's product portfolio, their competence and presence in strategic markets, we will create new business opportunities and further strengthen our capabilities to serve paper, board and tissue producers globally. PMP has a very skilled team and I am happy to warmly welcome them to Valmet," says Jari Vähäpesola, Business Line President, Paper business line, Valmet.
Miroslaw Pietraszek, PMP Group President:
"Joining to Valmet opens a new chapter in PMP's rich history in the pulp and paper industry and represents a huge leap forward for our future development. I am convinced that the joint technological, production and human resources in our key markets will allow us to reach new heights and ultimately benefit the advancement of the entire paper industry," says Miroslaw Pietraszek, PMP Group President.
PMP Group - a company with a long history in the pulp and paper industry
PMP Group is a provider of tissue, paper and board machinery and services. The company has been serving the pulp and paper industry for over 165 years. The 650 employees are located in Jelenia Góra and Swiecie in Poland, Changzhou in China, South Beloit in USA and Lucca in Italy.
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.
Read more www.valmet.com, www.twitter.com/valmetglobal
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