Valmet has completed the acquisition of NovaTech Automation's Process Solutions business

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Jan 03, 2023, 07:10 ET

ESPOO, Finland, Jan. 3, 2023 /PRNewswire/ -- The acquired business specializes in process control and optimization solutions for batch, continuous and hybrid processes. It serves customers mainly in process industries such as food and beverage, pharmaceuticals and chemical products. With a turnover of approximately USD 18 million, it employs 76 people in the United States and the Benelux countries. The acquisition excludes NovaTech Automation's other divisions.

The NovaTech Automation Process Solutions business will be integrated to Valmet's Automation Systems business line. The acquired business will be included in Valmet's financial reporting for the first time in Valmet's 1^st quarter 2023 financial reporting.

"The acquisition was completed as planned and we are very happy to welcome the new colleagues as well as the former NovaTech process solutions' customers to Valmet. The acquired business complements our automation offering well, bringing new synergies and opening the opportunity to serve both companies' current and future process automation customers with a wider offering," says Emilia Torttila-Miettinen, President, Automation Systems business line at Valmet.

"Valmet is a truly global, sustainable, and customer-focused process engineering organization. This acquisition is a great opportunity for the process organization, its employees and customers," says Conrad Oakey, CEO, NovaTech Automation.

VALMET
Corporate Communications

For further information, please contact:
Toni Saarnio, Vice President, Strategy and Business Development, tel. +358 40 588 4122, [email protected]

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. Our 17,500 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. 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 were 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.