Valmet has completed the acquisition of GL&V, which was announced on 26th February last. The value of the acquisition is about 113 million Euros in cash and without debts, and subject to ordinary adjustments following closure. The business acquired becomes part of Valmet’s business line Services. GL&V provides technologies, updates and optimization services, reconstructions and spare parts for the paper and cellulose sector worldwide. The business activities acquired registered a net turnover of about 160 million Euros in 2018 and currently employ approximately 630 people.
GL&V will, for the first time, be included in Valmet’s financial report in the Valmet’s Half Year Financial Review, with data from January 1st to 30th June 2019.
As announced on 26th February 2019, all washing, oxygen delignification and bleaching of GL&V with Compact Press®, i.e. the pumps and mixers technology for the production of chemical pulp and the corresponding product centre in Karlstad, Sweden, are no included within the field of the transaction.
«The acquisition was completed as planned and we would like to welcome our 630 new colleagues in Valmet», says Pasi Laine, i.e. Valmet’s president and CEO. «This further reinforces the activity of Valmet’s global services and completes our technological offer for the customers of the paper and cellulose industry. The acquisition also consolidates our local presence and our capacities at a global level. The combination of Valmet’s global reach and the offer of GL&V’s products and services for the production of chemical pulp, the stock preparation, the production of paper and the finish lay the foundations for new business opportunities and better service».