Valmet has completed the acquisition of PMP Group in Poland. PMP Group is a provider of technologies and services for the paper industry. The enterprise value of the acquisition is approximately Euro 64 million, plus a conditional and capped earn-out component.
The acquired business becomes a part of Valmet's Paper business line. PMP Group supplies process technologies and services for tissue, board and paper machines globally, focusing on small and medium-sized tissue machines and board and paper machine rebuilds. The net sales of the company were approximately Euro 70 million in the fiscal year 2019. The company employs about 650 people in Poland, China, USA and Italy.
PMP will be included in Valmet's financial reporting for the first time in Valmet's 4Q financial reporting 2020.