Valmet to Acquire PMP Group for EUR 64 Million
PMP Group supplies process technologies and services for tissue, board and paper machines globally, focusing on small and medium-sized tissue machines and board and paper machine rebuilds.
Sept. 14, 2020 - Valmet on Sept. 11, 2020 entered into an agreement to acquire PMP Group in Poland. The enterprise value of the acquisition is approximately EUR 64 million, plus a conditional and capped earn-out component.
PMP Group supplies process technologies and services for tissue, board and paper machines globally, focusing on small and medium-sized tissue machines and board and paper machine rebuilds. The net sales of the company were approximately EUR 70 million in the fiscal year 2019. The company employs about 650 people, the majority of whom are located in Poland and the rest in China, USA and Italy.
"The acquisition will bring two companies with different offerings and customer segments together," said Jari Vähäpesola, Business Line President, Paper for Valmet. "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.
Miros?aw Pietraszek, PMP Group President, added, "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."
Valmet expects to complete the acquisition on October 1, 2020 at the earliest.
About PMP Group
PMP Group is a provider of tissue, paper and board machinery and services. The company has been serving the pulp and paper industry for over 165 years. The 650 employees are located in Jelenia Góra and ?wiecie in Poland, Changzhou in China, South Beloit in USA and Lucca in Italy.
Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. The company's technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. For further information, visit: www.valmet.com