Valmet’s deal to acquire PMP Group will combine the two firms’ distinct offerings and customer segments
Valmet to acquire Poland-based PMP Group. (Credit: Tumisu from Pixabay)
Valmet, a provider of process technologies, automation and services, has agreed to acquire Poland-based PMP Group for an enterprise value of €64m, plus a conditional and capped earn-out component.
The deal is expected to be completed on 1 October 2020 at the earliest, said Valmet.
“Joining to 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.”
PMP Group employs 650 people in Poland, China, US and Italy
PMP Group provides process technologies and services for tissue, board and paper machines across the globe.
The company is mainly involved in the rebuilding of small and medium-sized tissue machines and board and paper machines.
PMP Group has generated net sales of around €70m in the fiscal year 2019. The company employees 650 people in Jelenia Góra and Świecie of Poland, Changzhou, China, South Beloit, US and Lucca, Italy.
Valmet paper business line president Jari Vähäpesola said: “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.”
In July this year, Valmet has been selected to supply an advanced bleached chemi thermo mechanical pulp (BCTMP) line to Guangxi Sun Paper in China.
Valmet is engaged in the development and distribution of process technologies, automation and services for the pulp, paper and energy industries.