Valmet to start personnel negotiations on temporary layoffs at its valve factory in Finland
Valmet Oyj’s press release on May 23, 2022 at 6:00 p.m. EEST
The geopolitical situation caused by the crisis in Ukraine and the intensified COVID-19 restrictions in China have reduced the orders at the valve factory in Helsinki, Finland, during spring. The exceptional situation has particularly impacted the factory’s oil and gas projects. The impact of the COVID-19 pandemic in China also continues to cause challenges related to component availability and logistics.
To adjust production capacity to match the reduced workload at the valve factory in Helsinki, Valmet is initiating personnel negotiations on potential temporary layoffs on May 25, 2022.
The employees within the scope of the negotiations are those in the Flow Control business line’s valve production and related operations in Helsinki, excluding the positioner production unit. The layoffs will be temporary and are estimated to last a maximum of 90 days. The negotiations involve around 340 employees.
Valmet employs about 6,200 people in Finland, about 830 of the employees are in the Flow Control business line.
For further information, please contact:
Simo Sääskilahti, President, Flow Control business line, Valmet, tel. +358 50 386 3234
Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. With our automation systems and flow control solutions we serve an even wider base of process industries.
We aim to become the global champion in serving our customers. Our 17,000 professionals work close to our customers and are committed to improving our customers’ performance – every day.
The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. In 2022, a major milestone was achieved when the flow control company Neles was merged into Valmet. The combined company’s net sales in 2021 was approximately EUR 4.5 billion based on the respective company figures.
Valmet’s shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland.