Changes in Valmet's organizational structure and appointment to the Executive Team
Valmet announced the acquisition of the Process Automation Systems business from Metso on January 15, 2015. Due to the acquisition, Valmet's Board of Directors has confirmed the future organizational structure of Valmet. The new structure will come into effect after the completion of the acquisition. As announced earlier, the transaction is estimated to be completed by April 1, 2015, and it is subject to approval by the competition authorities.
Future organizational structure
Valmet's organizational structure consists of business lines, geographical areas and corporate functions. Once the Process Automation Systems business acquisition is completed, the acquired business will form a fourth business line in Valmet. The name of the business line will be Automation. After the completion of the acquisition, Valmet's business lines will be: Services, Pulp and Energy, Paper, and Automation.
Valmet's geographical areas remain the same: North America, South America, EMEA, China, and Asia-Pacific. Finance, Strategy and Operational Development, HR, and Communications and Marketing continue as the corporate functions.
Valmet will continue to report its financial results as one segment.
Sakari Ruotsalainen appointed President of the future Automation business line
Mr. Sakari Ruotsalainen, M.Sc in Engineering, has been appointed President of the new Automation business line, which will be formed after the completion of the acquisition. Sakari Ruotsalainen (born 1955) is currently the Head of Process Automation Systems business in Metso Corporation. In his new position he will be a member of Valmet's Executive Team and will report to the President and CEO Pasi Laine.
Further information, please contact:
Pasi Laine, President and CEO, Valmet Corporation, tel. +358 10 672 0001
VP, Investor Relations
Valmet Corporation is a leading global developer and supplier of services and technologies for the pulp, paper and energy industries. Our 10,500 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day.
Valmet's services cover everything from maintenance outsourcing to mill and plant improvements and spare parts. Our strong technology offering includes entire pulp mills, tissue, board and paper production lines, as well as power plants for bio-energy production.
Valmet's net sales in 2014 were approximately EUR 2.5 billion. Valmet's objective is to become the global champion in serving its customers.
Valmet's head office is in Espoo, Finland and its shares are listed on the NASDAQ OMX Helsinki Ltd.
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