Valmet set to acquire PMP Group

Valmet has entered into an agreement to acquire PMP Group in Poland. The enterprise value of the acquisition is approximately €64m, plus a conditional and capped earn-out component. The acquisition is estimated to be completed on October 1, 2020 at the earliest.

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 €70m 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.

Jari Vähäpesola, Business Line President, Paper in Valmet, said, “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 good complement to Valmet’s current paper technology and services for wide and fast machines and rebuilds. Together with PMP’s product portfolio, their competence and presence in strategic markets, we will create new business opportunities and further strengthen our capabilities to serve paper, board and tissue producers globally. PMP has a very skilled team and I am happy to warmly welcome them to Valmet.”

Mirosław 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.”

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