Friday, November 11, 2022
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Valmet signed a contract to purchase the Process Solutions division of NovaTech Automation, a company with headquarters in the United States. In an official statement, Valmet Oyj, an Espoo, Finland-based developer and supplier of process technologies, automation and services for the pulp, paper and energy industries, announced that the acquisition’s worth will not be disclosed and it is anticipated to be finished no later than January 1st, 2023.
In line with Valmet’s future strategies
In the United States and the Benelux nations, the Process Solutions business employs about 90 employees and has a yearly revenue of over 18 million USD. It is a division of NovaTech Automation specialising in batch, continuous, and hybrid process control and optimization solutions. The merger is consistent with Valmet’s strategy and will provide the company with a solid batch distributed control solution (DCS) to further bolster its recurring, steady Automation business. Further, it increases the reach of Valmet’s automation systems business in the United States, notably in emerging sectors like food and beverage, pharmaceuticals, and chemical goods. Employees, technologies, and customer contracts will all be transferred to Valmet as part of the NovaTech Automation Process Solutions business. In the upcoming months, the two groups will collaborate to achieve a smooth transfer. The purchased company will be merged into Valmet’s business line for Automation Systems.
“Valmet is an industry leader in automation systems and process control. Their investment in research and development, direct-to-customer service model, and their global footprint make them an ideal steward of the NovaTech Automation Process offering. I know our customers and employees will benefit from their expertise and technologies,” says Conrad Oakey, CEO, NovaTech Automation.
“NovaTech Automation’s process solutions offering compliments Valmet’s existing automation offering and industry reach. It brings synergy and opens the opportunity to serve both companies’ current and future process automation customers with a wider offering. Together, we continue to strive to fulfil our vision of becoming the global champion in serving our customers. We look forward to welcoming the new colleagues from NovaTech Automation to Valmet,” says Toni Saarnio, Vice President, Strategy and Business Development at Valmet’s Automation Systems business line.
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Tags: acquisition, NovaTech, NovaTech Process Solutions, Valmet, woodworking, woodworking and manufacturing, woodworking event, woodworking industry, woodworking UK
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