Valmet has entered into an agreement to acquire North American-based GL&V, a global provider of technologies and services to the pulp and paper industry. The enterprise value of the acquisition is approximately Euro 113 million on a cash and debt free basis subject to ordinary post-closing adjustments. The acquisition is estimated to be completed at the earliest on April 1, 2019, as the company says in the press release received by Lesprom Network.
GL&V supplies technologies, upgrades and optimization services, rebuilds, and spare parts for the pulp and paper industry globally. The acquired operations employ about 630 people of whom approximately 65% are in North America and the rest mainly in Europe, South America and India.
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 scope.
GL&V is a global supplier of technologies and services for the pulp and paper industry.
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries.