Solidium supports the transaction announced today by Valmet Corporation and Neles Plc to combine the two companies through a merger. The merger supports both companies as leading suppliers of technology and services for process industries by combining Neles’ flow control solutions and Valmet’s technology-, automation and service portfolio. The combined entity has a revenue of ca. EUR 4.3 billion with approximately 17,000 employees.
Solidium, Valmet’s largest shareholder with 11,1 % of the shares, welcomes the merger and supports it by committing to vote in favour of the merger. Following the transaction as announced today by Valmet and Neles, Solidium’s shareholding will account to approximately 9,1 % of the combined entity. The completion of the merger is subject to certain customary conditions, including the approval of the EGMs of both companies.
Further information: CEO Antti Mäkinen, tel. +358 (0)10 830 8905
Solidium is a limited company wholly owned by the State of Finland. Its mission is to strengthen and stabilise Finnish ownership in nationally important companies and increase the value of its holdings in the long term. Solidium is a minority owner in twelve listed companies: Elisa, Kemira, Konecranes, Metso Outotec, Nokia, Nokian Tyres, Outokumpu, Sampo, SSAB, Stora Enso, TietoEVRY and Valmet. The market value of Solidium’s investments is approximately EUR 9.0 billion. Further information: www.solidium.fi.