Finland’s Valmet demerges from Metso

Newly formed Valmet Corporation will focus on the pulp, paper and power business.

The end of 2013 saw the completion of a demerger involving Metso, one of Finland’s biggest industrial companies. Following the demerger, Metso's pulp, paper and power business now operates under a new company called Valmet Corporation, while the mining, construction and automation business forms the continuing operations of Metso Corporation. The aim of the demerger was to create two strong and independent companies.

"Valmet will focus on delivering technology and services globally to industries that use bio-based raw materials. Our comprehensive services offering, broad service network, and large installed base will provide a solid platform for growth," said Valmet Corporation’s CEO Pasi Laine. Valmet’s net sales in 2012 were EUR 3.014 billion.

High-level industrial expertise

Valmet’s product and service portfolio consists of productivity-enhancing services, plant upgrades and rebuilds, new cost-efficient equipment and solutions for optimizing energy and raw material usage, and technologies that increase the value of its customers’ end-products.

Metso Corporation has a strong market position in the mining, construction and oil and gas industries and its net sales in 2012 were EUR 4.499 billion. According to Harri Nikunen, Metso’s Executive Vice President and Deputy to the CEO, the company’s outlook for 2014 is satisfactory thanks to the stable automation business in the oil and gas sectors, and steady cash flow from the mining industry. Metso intends to further strengthen its position by developing its offering in areas such as intelligent processes and services solutions.

Sources: Metso, Valmet, Talouselämä, Arvopaperi