- Valmet Oyj's press release October 26, 2021 at 1:15 p.m. EET
HELSINKI, Oct. 26, 2021 /PRNewswire/ -- The merger between Valmet and Neles is planned to take place in the beginning of 2022 once the necessary merger control approvals by the relevant competition authorities are obtained. In the merged company Neles is planned to be organized as an independent organizational entity called Flow Control Business Line reporting directly to President and CEO Pasi Laine.
Olli Isotalo, current President and CEO of Neles, has informed Valmet's management of his wish to retire from his current duties upon the successful completion of the Valmet-Neles merger.
Since receiving this information, Valmet's management has been conducting a search process to find the most suitable candidate to continue the development of Flow Control Business Line. Simo Sääskilahti, currently working as Neles' CFO, has been chosen as the head of the Business Line as of the completion of the merger process.
Simo Sääskilahti joined Metso in 2011. Before starting in his role as the CFO of Neles in July 2020, he held a variety of positions spanning business management, product and technology development, as well as finance and business development mainly in businesses related to the valves industry. Before joining Metso, he worked at Comptel in various management positions and as a consultant with McKinsey&Co. Simo Sääskilahti has a thorough understanding of the valves industry and related products as well as the customers and the market areas. He has been instrumental to the development of the current Neles strategy with focus on growth, profitability improvement and diversification and is therefore well-placed to continue strategy implementation.
"I look forward to working together with Simo, who is an experienced, analytical and broad-minded leader and will be a good addition to Valmet's experienced Executive Team," says Pasi Laine, President and CEO of Valmet.
"Simo brings with him many years of experience in the flow control business. At the same time, I want to wish the best to Olli Isotalo for the next chapter in his life," continues Pasi Laine.
For further information, please contact:
Pasi Laine, President and CEO, Valmet, tel. +358 10 672 0001
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers.
Valmet's strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our advanced services and automation solutions improve the reliability and performance of our customers' processes and enhance the effective utilization of raw materials and energy.
Valmet's net sales in 2020 were approximately EUR 3.7 billion. Our 14,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day. Valmet's head office is in Espoo, Finland and its shares are listed on the Nasdaq Helsinki.
This information was brought to you by Cision http://news.cision.com
SOURCE Valmet Oyj