"GL&V's product and services offerings for chemical pulping and paper production form a good basis to create new business opportunities ", Pasi Laine, President and CEO of Valmet says.
Valmet has entered into an agreement to acquire North American-based GL&V, a global provider of technologies and services to the pulp and paper industry. The enterprise value of the acquisition is approximately €113m on a cash and debt free basis subject to ordinary post-closing adjustments. The acquisition is estimated to be completed at the earliest on 1 April this year, Valmet said.
GL&V supplies technologies, upgrades and optimization services, rebuilds, and spare parts for the pulp and paper industry globally. The net sales of the acquired operations were approximately €160m and the EBITA margin was around 11% in calendar year 2018. The acquired operations employ about 630 people of whom approximately 65% are in North America and the rest mainly in Europe, South America and India.
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