Valmet has on September 11, 2020 entered into an agreement to acquire PMP Group in Poland. The enterprise value of the acquisition is approximately 64 million EUR, plus a conditional and capped earn-out component.
PMP Group supplies process technologies and services for tissue, board and paper machines globally, focusing on small and medium-sized tissue machines and board and paper machine rebuilds. The net sales of the company were approximately 70 million EUR in the fiscal year 2019. The company employs about 650 people, the majority of whom are located in Poland and the rest in China, USA and Italy.
According to Jari Vähäpesola, President of the Paper Business Line in Valmet, «The acquisition will bring two companies with different offerings and customer segments together. PMP’s technology and services portfolio for small and medium-sized tissue, board and paper machines will be a very good complement to Valmet’s current paper technology and services for wide and fast machines and rebuilds. Together with PMP’s product portfolio, their competence and presence in strategic markets, we will create new business opportunities and further strengthen our capabilities to serve paper, board and tissue producers globally. PMP has a very skilled team and I am happy to warmly welcome them to Valmet».
According to Mirosław Pietraszek, President of PMP Group, «Joining Valmet opens a new chapter in PMP’s rich history in the pulp and paper industry and represents a huge leap forward for our future development. I am convinced that the joint technological, production and human resources in our key markets will allow us to reach new heights and ultimately benefit the advancement of the entire paper industry.»