History
1999–2012 Valmet and Rauma merge as Metso
At the end of 2009, Metso acquired Tamfelt Corporation, one of the world's leading suppliers of technical textiles.Valmet 2020–
At the end of June 2020, Neles was separated from Metso. The State of Finland sold its share of 15 per cent to Valmet. In mid-July, the Swedish company Alfa Laval made an offer to buy Neles. Valmet's CEO Laine rebuked the board of Neles for ill-advised actions and accepting a price that was too low. Laine had previously managed the business operations of Neles and thought that Valmet could in time have bought more of its stock. Alfa Laval's CEO said that they had bought Neles at a “pandemic discount,” and the front page of the Swedish financial newspaper Dagens Industri celebrated that Sweden would soon own Finland's industry. Valmet started buying Neles stock. By the autumn, Valmet owned nearly 30 per cent of the stock. Alfa Laval only received the support of a third of Neles owners for its takeover bid, and withdrew from the competition in November. In January 2021, Valmet reported that it would supply the mills of the Swedish company Renewcell with equipment to produce dissolving pulp from recycled clothes and textiles. In May, Valmet announced that it would deliver drying technology to Spinnova, which produces textile fiber from cellulose. Valmet equipment for the textile industry is in high demand in Europe, because the collection of discarded textiles for recycling must be organized in the EU countries by 2025. Valmet had been developing recycling technology with Renewcell for years, and the companies constructed a pilot plant and a factory in Sundsvall together. In July 2021, Valmet and Neles agreed to merge. Neles owners obtained 18.8 per cent of the merging company. The companies’ synergies were considered to be substantial during the transaction. Neles was thought to help increase sales in automation systems, while its products were also to be sold to the paper industry. NelesSee also
* Valmet AutomotiveReferences
{{DJSI World Companies listed on Nasdaq Helsinki Companies in the OMX Helsinki 25 Conglomerate companies of Finland Aircraft manufacturers of Finland Motor vehicle manufacturers of Finland Shipbuilding companies of Finland Defence companies of Finland 1951 establishments in Finland 1999 disestablishments in Finland Manufacturing companies established in 1951 Companies disestablished in 1999 Firearm manufacturers of Finland Locomotive manufacturers of Finland Finnish companies established in 1951