Valmet continues to strengthen its stable business by acquiring North American-based Coldwater
Valmet Oyj’s press release on March 1, 2022 at 4:00 p.m. EET
Valmet has on March 1, 2022 acquired North American-based Coldwater Seals, Inc., a global provider of consumables and services to the pulp and paper industry. Coldwater operates manufacturing facilities in the United States and Sweden. The value of the acquisition will not be disclosed.
Coldwater manufactures and supplies paper process parts, including suction roll seal strips, ceramics, plastics, doctoring products and other specialty products. It is the global market leader for suction roll seals and plastic dewatering elements.
In the last twelve months, the company had net sales of approximately EUR 15 million. The acquired operations employ about 60 people, who are located in Atlanta and Appleton in the U.S. and Kil, Sweden. Coldwater operates globally and has Technical Service Representatives in more than 70 countries.
"We are continuously strengthening our stable business, meaning Services and Automation. This acquisition supports strategy to expand our consumables offering. I warmly welcome the new skilled professionals to become part of the Valmet team and into our strong, global Services organization," says Aki Niemi, Business Line President, Services at Valmet.
"I am convinced that the future of Coldwater is in good hands with Valmet," adds David Withers, Owner and CEO of Coldwater Seals Inc.
For further information, please contact:
Aki Niemi, President, Business Line President, Services, Valmet tel. +358 40 515 1145
Jukka Tiitinen, Area President, North America, Valmet, tel. +1404433-0937
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 2021 were approximately EUR 3.9 billion. Our more than 14,000 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.