Inside information: Valmet notified of arbitration claim by Metsä Fibre Oy

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Oct 15, 2024, 12:26 ET

Valmet Oyj's stock exchange (inside information) release on October 15, 2024 at 4:30 p.m. EEST

ESPOO, Finland, Oct. 15, 2024 /PRNewswire/ -- Metsä Fibre Oy has filed a request for arbitration against Valmet Technologies Oy, which is a subsidiary of Valmet. The arbitration concerns Metsä Fibre's bioproduct mill in Kemi, Finland, which came into operation as planned on September 20, 2023.

Valmet Technologies Oy disputes the claims brought by Metsä Fibre and will also actively pursue claims of its own against Metsä Fibre. Metsä Fibre's preliminary monetary claims put forward amount to approximately EUR 47 million. In addition, Metsä Fibre has informed that it will claim that Valmet Technologies Oy would be declared liable for certain potential costs which Metsä Fibre might incur later based on contractual relationships between Metsä Fibre and other parties. Metsä Fibre estimates that the current value of such potential claims is approximately EUR 65 million, but estimates that this amount is likely to decrease.

Valmet's management does not expect to the best of its current understanding any material adverse impacts on its operations or financial position due to this arbitration. This assessment takes into account the grounds currently presented, provisions made, insurance coverage in force, and the extent of Valmet's total business activities.

Further information, please contact:

Rasmus Oksala, General Counsel, Valmet, tel. +358 50 3173 830
Pekka Rouhiainen, VP, Investor Relations, Valmet, tel. +358 10 672 0020

VALMET

Katri Hokkanen
CFO

Pekka Rouhiainen
VP, Investor Relations

DISTRIBUTION:
Nasdaq Helsinki
Major media
www.valmet.com

Valmet has a global customer base across various process industries. We are a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries, and with our automation and flow control solutions we serve an even wider base of process industries. Our more than 19,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day.

The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. Valmet's net sales in 2023 were approximately EUR 5.5 billion.

Valmet's shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland.