Körber Business Area Tissue to pursue growth opportunity under new strategic owner
Hamburg, July 7th, 2023 – Körber’s Business Area Tissue, a fully integrated global provider of advanced technologies for the tissue industry, will continue its successful evolution towards a leading player under new strategic ownership. The Germany-based technology group Körber has reached an agreement for its Business Area Tissue to be acquired by global technology and services company Valmet.
Valmet is a Finnish company with over 220 years of industrial history and 17.500 professionals providing process technologies, automation, and services for the pulp, energy, and paper industries to customers worldwide. With automation they also serve a wide base of other process industries globally. Valmet’s shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland. By bundling forces, Körber’s Business Area Tissue and Valmet as its new owner will be able to build a unique customer value proposition and further strengthen competitiveness and resilience in a highly dynamic tissue market.
Through continuous strategic development, targeted investments, and the dedicated commitment of its employees, Körber’s Business Area Tissue already today is in an excellent position with the industry’s most comprehensive portfolio of tissue technology to support customers across the entire value chain of tissue converting and packaging – from roll to fold, from converting to packaging. Its technologies, products, and digital services complement Valmet’s competencies and current portfolio of tissue making technologies, services, and automation.
Stephan Seifert, CEO of the Körber Group, says: “This is an excellent opportunity to form a unique tissue player and set the course for the future. The complementary positioning as well as the shared entrepreneurial mindset and clear customer focus contribute to the best conditions for a successful joint growth trajectory. Our Business Area Tissue will be able to further expand its potential, offering, and reach with Valmet as its new committed owner, who will accelerate our efforts to date. At the same time, Körber continues and stays fully dedicated to strengthen its other Business Areas and pursue its organic and inorganic growth strategy.”
Oswaldo Cruz, CEO of Körber Business Area Tissue, says: “Valmet has profound market expertise, a strong customer focus, and extensive experience in integrating additional competencies. We are very pleased that in Valmet, we have found the ideal future partner for our employees, customers, and suppliers to leverage the full potential of our tissue business.”
Pasi Laine, President and CEO of Valmet, says: “The combination of Valmet’s current tissue making technologies, services and automation offering and the acquired tissue converting offering and competences is a good strategic fit and forms a strong basis to create new business opportunities and serve our customers even better. We are happy and proud to warmly welcome all the new colleagues from Körber’s Business Area Tissue to become part of Valmet.”
Körber will remain a partner of Valmet and the tissue industry, through offerings of its other Business Areas e.g. with palletizing solutions from Business Area Supply Chain. With its ventures like FactoryPal, Körber will further advance its strong stance in digital solutions for manufacturing efficiency – for the tissue industry and beyond.
The transaction is subject to customary closing conditions and regulatory approvals. The possible earliest date to close the transaction is November 2nd, 2023.
