Valmet has entered into an agreement to acquire PMP Group in Poland. The enterprise value of the acquisition is approximately Euro 64 million, plus a conditional and capped earn-out component. The acquisition is estimated to be completed on October 1, 2020 at the earliest.
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, the majority of whom are located in Poland and the rest in China, USA and Italy.