Valmet Completes Its Acquisition of PMP Group
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.
Oct. 16, 2020 - Valmet has completed the acquisition of PMP Group in Poland following the agreement that was announced on September 11. PMP Group is a provider of technologies and services for the paper industry. The enterprise value of the acquisition is approximately EUR 64 million, plus a conditional and capped earn-out component. The acquired business becomes a part of Valmet's Paper business line. 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 acquisition was completed as planned and we are happy to welcome 650 new colleagues to Valmet," said Jari Vähäpesola, Business Line President, Paper, Valmet. "The combination of Valmet's current paper technology and services for wide and fast machines and rebuilds, together with PMP's product portfolio, competence and presence in strategic markets, will create new business opportunities. From now on we will work as one team with a wider product offering, to further strengthen our capabilities to serve paper, board and tissue producers globally." PMP Group employs about 650 people in Poland, China, USA and 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 SOURCE: Valmet |