Valmet Oyj press release, August 2, 2024, at 9:00 a.m. EEST
ESPOO, Finland, Aug. 2, 2024 /PRNewswire/ -- Valmet has completed the acquisition of Demuth following the agreement that was announced on December 22, 2023. Demuth is a Brazilian company specializing in wood handling solutions for the pulp industry.
The value of the acquisition will not be disclosed. The acquired operations will be included in Valmet's financial reporting for the first time in the third quarter of 2024.
Demuth operates two manufacturing facilities in southern Brazil in the state of Rio Grande do Sul. The net sales of Demuth are around EUR 20-30 million annually, and the company employs around 400 people.
Demuth facility in Portão, Brazil
The acquisition is in line with Valmet's strategy to develop and supply competitive and reliable process technologies, services and automation to pulp, paper and energy customers. This acquisition significantly strengthens Valmet's wood handling technology offering and services presence in South America.
"The acquisition was completed as planned after the approval of the competition authorities' review. We are very happy to welcome the new colleagues from Demuth to join our Valmet South America team. With stronger local presence in Brazil and with further improved capabilities to deliver new wood handling equipment, spare parts, and field services, we are able to serve our customers even better and help to take their performance forward," says Celso Tacla, Area President, South America, Valmet.
"South America is an important growth market for Valmet's pulp business. There are several new greenfield pulp mills being planned to be built in Brazil and several of the existing mills will be modernized in the coming years, in Brazil and other countries in South America. With expanded wood handling offering and equipment manufacturing capabilities, we can strengthen our position in these projects. Our whole organization is looking forward to very close cooperation with our new colleagues," says Sami Riekkola, Business Line President, Pulp and Energy, Valmet.
VALMET
Corporate Communications
For further information, please contact:
Sami Riekkola, President, Pulp and Energy business line, Valmet, tel. +358 40 542 7437
Celso Tacla, Area President, Valmet South America, tel. +55 41 3358 4799
Valmet has a global customer base across various process industries. We are a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries, and with our automation and flow control solutions we serve an even wider base of process industries. Our more than 19,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day.
The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. Valmet's net sales in 2023 were approximately EUR 5.5 billion.
Valmet's shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland.
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