Neles

Valmet finalized the merger with Neles, combining Neles brands such as Neles, Jamesbury and Flowrox into its Flow Control business line for process industries.

Finnish paper-industry equipment maker Valmet completed its merger with valve company Neles on April 1, 2022, creating a combined company with valve and automation operations.

Neles Corporation and Valmet Oyj completed their merger, with trading in the new Valmet shares starting April 1, 2022. The Finnish Financial Supervisory Authority had approved a supplement to the merger prospectus.

Neles introduced the renewed Nelprof valve sizing and selection software as a free web-based tool. It supports selection of Neles, Jamesbury and Easyflow intelligent automated process valves.

Finnish valve maker Neles Corp has completed its acquisition of the valve and pump businesses of Flowrox. The completion was reported on 14 January 2022.

Neles and thyssenkrupp Uhde Chlorine Engineers signed a frame agreement for the delivery of valve solutions for green hydrogen applications. The announcement was dated November 17, 2021.

Valmet Oyj and Neles Corporation now target completion of their merger on or before April 1, 2022, instead of January 1, 2022, because regulatory reviews are taking longer. The merger was first announced on July 2, 2021.

Neles Corporation completed its acquisition of the valve and pump businesses of Finland-based Flowrox on 1 November 2021. The deal adds 110 employees and mining and metals flow-control products to Neles.

Neles signed an asset purchase agreement to acquire the valve and pump businesses of Flowrox, with about EUR 30 million of 2020 sales, for EUR 40.9 million in cash plus up to EUR 3 million earn-out. Closing is estimated for November 2021.

Valmet and Neles signed a combination agreement and merger plan under which Neles will merge into Valmet, creating a company with illustrative 2020 net sales of about EUR 4.3 billion and around 17,000 staff. The combination targets roughly EUR 25 million in annual run-rate synergies.

Finnish valve company Neles Corp signed an asset purchase agreement to acquire the valve and pump businesses of Flowrox. The price was not disclosed.

Neles will commission a new production unit at its Vantaa, Finland valve factory to improve availability and delivery times, with start of operations scheduled for early 2022.

Neles signed seven new distributor agreements and one agent agreement in South and Central America during the last three quarters.

Neles and Metsä Fibre signed a preliminary agreement for Neles to supply valve solutions and maintenance services for the new bioproduct mill in Kemi, Finland. The mill investment is EUR 1.5 billion, with a final decision expected no earlier than autumn 2020.

Metsä Fibre and Neles signed a preliminary agreement under which Neles would deliver valve solutions and maintenance and spare part services to the new Kemi bioproduct mill in Finland.

Neles signed a preliminary agreement to supply valve solutions and maintenance services for Metsä Fibre's planned 1.5 million tonne bioproduct mill in Kemi, Finland. Metsä's final investment decision is expected in fall 2020 at the earliest.

Alfa Laval amended its recommended public cash tender offer for all shares of Finnish valve maker Neles, lowering the minimum acceptance condition to more than 50% and extending the acceptance period. The offer was first announced on 13 July 2020.

Valmet proposed to the Neles board on 29 September 2020 to start talks on a statutory merger of the two Finnish companies. Valmet had already built its Neles stake to 29.5%.

Alfa Laval announced a recommended voluntary public cash tender offer of EUR 11.50 per share for all Neles shares not already held by Neles, valuing Neles' total equity at about EUR 1,727 million. The deal strengthens Alfa Laval's industrial flow control business.

Neles has started operations at its new greenfield valve technology center in Jiaxing, China, announced in October 2018. The plant will produce over 100,000 standard valves per year for customers in process industries.

Valmet agreed to buy 22,374,869 shares, or 14.88%, of the future Neles Corporation from Solidium Oy for EUR 179 million paid in cash. The transaction is expected to close on July 1, 2020, after Neles is spun off from Metso.

Neles, formerly Metso's valve business and now part of Valmet, closed its acquisition of Indian valve company Rotex Manufacturers and Engineers Pvt. Ltd. in late 2018. The deal expands Neles' product range and services in India.