Valmet acquires PMP Group

Espoo, Finland - Valmet has entered into an agreement to acquire Paper Machinery Producer (PMP) Group in Poland at an acquisition price of approximately €64 million, plus a conditional and capped earn-out component. The acquisition is to complete Q3 2020.

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 €70 million in fiscal year 2019. They employ about 650 people, primarily located in Poland with the rest in China, USA and Italy.

“The acquisition will bring two companies with different offerings and customer segments together. 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,” said Jari Vähäpesola, Valmet business line president, paper business line.

“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,” says Miroslaw Pietraszek, PMP Group president.

www.valmet.com www.pmpgroup.com

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