From April 2019 Valmet will own the North American GL & V

To strengthen its business in North America, Valmet acquires GL & V, a global provider of technology and services for the pulp and paper industry. It is reported by the press service of Valmet.

On 26 February 2019 Valmet entered into an agreement to acquire a new asset. The purchase price is approximately EUR 113 million in cash and without debt, subject to the usual post-closure adjustments. It is planned that the transaction will be completed no earlier than April 01, 2019.

GL & V was founded almost 45 years ago and is one of the largest suppliers of equipment for the production of pulp and paper, as well as a world leader in the modernization and optimization of equipment. In the 2018 calendar year, the company’s revenue was about 160 million euros, and EBITA margin – about 11%.

Valmet is the world’s leading developer and supplier of technology, automation, and services for the pulp, paper and energy industries. The company became a major player in the market of papermaking equipment in the mid-1960s when it supplied several papermaking machines to the world leaders in the production of paper. In 2018, Valmet’s net profit was about 3.3 billion euros. Its shares are listed on Nasdaq Helsinki, headquartered in the Finnish city of Espoo.