Valmet closes the agreement to acquire majority shares in FactoryPal, a subsidiary of Körber
Valmet Oyj press release, August 1, 2024, at 2:45 p.m. EEST
ESPOO, Finland, Aug. 1, 2024 /PRNewswire/ -- Valmet and Körber have on August 1, 2024, closed the earlier announced agreement to further strengthen the digital solution FactoryPal. FactoryPal is a unique software developed to improve shopfloor manufacturing performance and productivity.
After the closing of the agreement, Valmet holds the majority of the shares and FactoryPal will continue operating as an own legal entity under existing brand. The addition of FactoryPal will further strengthen Valmet's offering of advanced Industrial Internet solutions and digital services to support customers in the tissue industry. The agreement follows Valmet's acquisition of Körber Business Area Tissue that was completed in November 2023.
FactoryPal empowers mill teams to achieve seamless operations by generating and utilizing high-quality data combined with state-of-the-art user experience and advanced artificial intelligence (AI). Acting as an AI co-pilot, the application leverages data and AI to transform operational challenges into opportunities, optimizing many aspects of production.
"FactoryPal is an excellent complement to Valmet's Industrial Internet solutions and digital services. With the addition of extensive competence and advanced digital services we can support tissue producers to further improve production efficiency and preventive actions. We are eager to take the next step in digitalization of tissue mills", says Samppa Ahmaniemi, VP Tissue Converting business unit, Valmet.
"Our partnership with Valmet marks a significant step towards becoming the leading AI-copilot for shop floors. By harnessing our combined expertise in machinery, process, and advanced digital and AI solutions, we are committed to delivering unparalleled customer value in Tissue and beyond", says Nadja Hatzijordanou, CEO of FactoryPal.
"We are very proud of the successful development of FactoryPal as one of Körber's digital ventures so far. The agreement with Valmet will open additional market and growth opportunities. I am looking very much forward to the future collaboration", says Dr. Christian Schlögel, Körber Group Executive Board member and responsible for the Business Area Digital.
VALMET
Corporate Communications
For further information please contact:
Samppa Ahmaniemi, VP Tissue Converting business unit, Paper business line, Valmet, tel. +358 40 046 1417
Nadja Hatzijordanou, CEO of FactoryPal, email: nadja.hatzijordanou@factorypal.com
Valmet has a global customer base across various process industries. We are a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries, and with our automation and flow control solutions we serve an even wider base of process industries. Our more than 19,000 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. Valmet's net sales in 2023 were approximately EUR 5.5 billion.
Valmet's shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland.
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