Merger of Valmet Oyj and Neles Corporation has been registered and the combination of Valmet's and Neles' business operations has been completed
Merger of Valmet Oyj and Neles Corporation has been registered and the combination of Valmet's and Neles' business operations has been completed
HELSINKI, April 1, 2022 /PRNewswire/ -- Valmet Oyj ("Valmet" or the "Company") announces that the statutory merger of Neles Corporation ("Neles") into Valmet (the "Merger") has been registered with the Finnish Trade Register on the effective date of the Merger on April 1, 2022. As a result of the registration of the completion of the Merger, Neles has been dissolved. Neles is consolidated to Valmet as of April 1, 2022.
Valmet President and CEO, Mr. Pasi Laine, comments: "We are pleased that we can now start our journey together as a stronger Valmet. I warmly welcome our new Flow Control business line colleagues to the team. Valmet now has a unique, even stronger offering for global process industries and a solid platform for further business growth especially in automation systems and flow control solutions. From the beginning of the merger process, we have had a strong view on the excellent long-term value potential to the shareholders, the industrial logic and synergy potential. With our team of 17,000 professionals around the world we will now work together in realizing these targets. I want to also thank all the people who have worked hard in the merger process and integration planning. It is also important to acknowledge that without the excellent work done in Valmet and Neles during the past years, this merger would not have been possible. We now have a good foundation to develop Valmet forward, together."
As a result of the registration of the completion of the Merger and the new shares issued as merger consideration to Neles' shareholders, the total number of Valmet's shares is 184,529,605 shares and the share capital is EUR 140,000,000. The new shares have been admitted to trading on the official list of Nasdaq Helsinki Ltd under the trading code VALMT (ISIN code: FI4000074984).
The new Valmet shares issued as merger consideration have been registered on the book-entry accounts of Neles' shareholders today on April 1, 2022. Recipients of merger consideration shares may trade Valmet shares as from today, April 1, 2022.
Further information, please contact:
Pekka Rouhiainen, Director, Investor Relations, Valmet, tel. +358 10 672 0020
VALMET OYJ
Kari Saarinen
CFO
Pekka Rouhiainen
Director, Investor Relations
DISTRIBUTION:
Nasdaq Helsinki Ltd
Major media
www.valmet.com
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.
We aim to become the global champion in serving our customers. Our 17,000 professionals work close to our customers and are committed to improving our customers' performance - 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 flow control company Neles was merged into Valmet. The combined company net sales in 2021 was 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.
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