Valmet completesacquisition of GL&V

Valmet has completed the acquisition of GL&V, whichwas announced on February 26, 2019. GL&V is aglobal provider of technologies and services to the pulpand paper industry. The enterprise value of the acquisition is about €113 million on a cash and debt freebasis subject to ordinary post-closing adjustments.

The acquired business becomes a part of Valmet’sServices business line. GL&V supplies technologies,upgrades and optimization services, rebuilds and spareparts for the pulp and paper industry globally. The acquired operations had net sales of about €160 millionin calendar year 2018 and employ about 630 people.

GL&V will be included in Valmet’s financial reporting for the first time in the half year financial reviewfor Jan. 1-June 30, 2019.

The transaction does not include GL&V’s washing,oxygen delignification and bleaching operations withCompact Press, pumps and mixers technology forchemical pulping nor is the related product center inKarlstad, Sweden.

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