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.
“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.
GL&V will now be part of Valmet’s Services business line.
