Valmet’s comment on Alfa Laval’s tender offer for Neles’ shareholders
Valmet Oyj’s press release July 13, 2020 at 5:00 p.m. EET
Valmet has today become aware of Alfa Laval’s announcement on public cash tender offer for all shares in Neles. Valmet completed 14.88 percent share acquisition of Neles’ shares from Solidium Oy on July 1, 2020.
“Neles is a good quality company with a strong position in the pulp and paper industry and other process industries. Valmet and Neles have a common heritage, serve similar global industries and benefit from same global megatrends. Valmet sees a good amount of value in Neles and with the previously announced share acquisition our target is to participate in developing the company further. Therefore, as a Neles shareholder, Valmet does not consider Alfa Laval’s tender offer to be beneficial for Neles. Valmet will continue as an active shareholder of Neles,” says Pasi Laine, President and CEO of Valmet.
Valmet acquires 14.9% ownership in the future Neles
Valmet completes 14.9% ownership acquisition of Neles
VALMET
Corporate Communications
For further information, please contact:
Pasi Laine, President and CEO, Valmet, tel. +358 10 672 0001
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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