GL&V Becomes Part of Valmet

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Valmet has on February 26, 2019 entered into an agreement to acquire North American-based GL&V, a global provider of technologies and services to the pulp and paper industry.  The enterprise value of the acquisition is approximately EUR 113 million on a cash and debt free basis subject to ordinary post-closing adjustments.  The acquisition is estimated to be completed at the earliest on April 1, 2019. 

GL&V supplies paper technologies, upgrades and optimization services, rebuilds, and spare parts for the pulp and paper industry globally.  The net sales of the acquired operations were approximately EUR 160 million and the EBITA margin was around 11 percent in calendar year 2018.  The acquired operations employ about 630 people of whom approximately 65 percent in North America and the rest mainly in Europe, South America and India. 

GL&V's washing, oxygen delignification and bleaching operations with Compact Press®, pumps and mixers technology for chemical pulping as well as the related Product Center in Karlstad Sweden are not included in the transaction scope.

"The acquisition has an excellent strategic fit - it strengthens Valmet's global services business, complements our technology offering and builds further our local presence and capabilities especially in North America.  The combination of Valmet's global reach and GL&V's product and services offerings for chemical pulping and paper production form a good basis to create new business opportunities and serve our customers even better.  GL&V has a team of experts globally and I want to warmly welcome them to become part of Valmet," says Pasi Laine, President and CEO of Valmet.

GL&V provides technologies, upgrades and process optimization services, rebuilds, and spare parts for the pulp and paper industry globally - especially in the areas of chemical pulping, stock preparation, papermaking and finishing.  GL&V's key locations are in Nashua (New Hampshire), Lenox (Massachusetts), and Hudson Falls (New York) in the U.S., in Trois-Rivierés (Quebec) in Canada, in Stockholm, Sweden, in Pune, India and in Campinas, Brazil. 

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 2018 were approximately EUR 3.3 billion.  Our more than 12,000 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 share are listed on the Nasdaq Helsinki. 

VALMET

Corporate Communications

For more information on Valmet, visit Valmet.com. 

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