Valmet has completed the acquisition of GL&V, a global provider of technologies and services to the pulp and paper industry, for an enterprise value of approximately €113 million.
GL&V supplies technologies, upgrades and optimization services, rebuilds, and spare parts for the pulp and paper industry globally. The acquired operations had net sales of approximately €160 million in 2018 and employ about 630 people.
GL&V's washing, oxygen delignification and bleaching operations with Compact Press®, pumps and mixers technology for chemical pulping as well as the related Product Center in Karlstad Sweden are not included in the transaction.
GL&V will now be part of Valmet’s Services business line.
“The combination of Valmet’s global reach and GL&V’s product and services offering for chemical pulping, stock preparation, papermaking and finishing create a good basis for new business opportunities and for serving our customers even better,” said Pasi Laine, president and CEO of Valmet.
