Valmet has completed the acquisition of Process Automation Systems
(Thomson Reuters ONE) -
Valmet Corporation's stock exchange release on April 1, 2015 at 12:00 noon EET
Valmet has completed the acquisition of Process Automation Systems business from
Metso, announced on January 15, 2015. Valmet has received the necessary
approvals from the competition authorities. The enterprise value of the
acquisition is EUR 340 million, and it is financed with committed long-term
financing.
Automation is Valmet's fourth business line
According to Valmet's new organizational structure, the acquired business forms
Valmet's fourth business line, Automation. Valmet will continue to report its
financial results as one segment, and Automation business line will be included
in reporting starting from April-June 2015 Interim Review. Orders received, net
sales and personnel will be reported for all business lines and areas. Mr.
Sakari Ruotsalainen, M.Sc in Engineering, has been appointed President of
Automation business line.
Guidance remains unchanged
The completion of the acquisition of Process Automation Systems has no effect on
Valmet's guidance for 2015, which was given on February 6, 2015. Valmet
estimates that, including the acquisition of Process Automation Systems, net
sales in 2015 will increase in comparison with 2014 (EUR 2,473 million) and
EBITA before non-recurring items in 2015 will increase in comparison with 2014
(EUR 106 million).
Pasi Laine, President and CEO of Valmet: Valmet is a unique combination of
technology, process know-how and automation
"The acquisition was completed according to our plan, and we welcome
approximately 1,600 new colleagues to Valmet. We are now a technology and
service company with full automation offering. The unique combination of
Valmet's technology, process know-how and automation offers good possibilities
to move our customers' performance forward and serve our customers even better,"
says Pasi Laine, President and CEO of Valmet.
Further information, please contact:
Hanna-Maria Heikkinen, VP, Investor Relations, Valmet, tel. +358 10 672 0007
VALMET CORPORATION
Markku Honkasalo
CFO
Hanna-Maria Heikkinen
VP, Investor Relations
Valmet is the leading global developer and supplier of technologies, automation
and services for the pulp, paper and energy industries. Valmet's vision is to
become the global champion in serving its customers.
Valmet's services cover everything from maintenance outsourcing to mill and
plant improvements and spare parts. The strong technology offering includes pulp
mills, tissue, board and paper production lines, as well as power plants for
bio-energy production. Valmet's advanced automation solutions range from single
measurements to mill wide turnkey automation projects.
Valmet's net sales in 2014 were approximately EUR 2.5 billion. Our 12,000
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 OMX Helsinki Ltd.
Read more www.valmet.com , www.twitter.com/valmetglobal
Follow Valmet IR in Twitter www.twitter.com/valmetir
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Valmet Corporation via GlobeNewswire
[HUG#1908168]
Unternehmensinformation / Kurzprofil:
Datum: 01.04.2015 - 11:01 Uhr
Sprache: Deutsch
News-ID 382712
Anzahl Zeichen: 4101
contact information:
Town:
Espoo
Kategorie:
Business News
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"Valmet has completed the acquisition of Process Automation Systems"
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