Valmet, a developer and supplier of process technologies, automation and services for the pulp, paper and energy industries, has completed the acquisition of the Process Gas Chromatography & Integration business from Siemens AG. The closing of the transaction follows the agreement that was announced on July 17, 2023.
The Process Gas Chromatography & Integration business of Siemens AG is a market leader with its Maxum II Gas Chromatograph platform, Systems Integration, and Customer Services offering. Gas Chromatographs are used to measure the chemical composition in gases and evaporable liquids in all stages of production. With deep customer process knowledge in chemicals, liquefied natural gas (LNG), refining and biofuels, the business provides critical process insights to support its customers in ensuring and improving quality, sustainability, and safety worldwide. The business employs around 300 people, and its main locations are in the USA, Germany, and Singapore.
The acquisition is in line with Valmet’s strategy and will further strengthen Valmet’s automation segment and process automation offering with process industry gas chromatograph and process analyzer systems offering. It also strengthens Valmet’s Automation Systems business footprint in North America, Asia-Pacific, and Europe. The acquired business is integrated into Valmet’s Automation Systems business line as a business unit called Analyzer Products and Integration.
“The acquisition was completed as planned and we are very happy to welcome the new colleagues as well as the former Siemens Process Gas Chromatography & Integration’s customers to Valmet. The acquired business complements our automation offering well, opening the opportunity to serve both businesses’ current and future process automation customers with a wider offering,” says Emilia Torttila-Miettinen, president, Automation Systems business line at Valmet.
“Today is a monumental milestone in our history, as the acquisition of our Gas Chromatography & Integration business by Valmet is now finalized. Valmet has demonstrated its commitment to our MAXUM II Gas Chromatograph technology, customers, and employees throughout this process, and we are confident that aligning with an organization that embraces our value will lead to sustained mutual success. On behalf of all our associates around the world, we are excited to begin this new journey as part of Valmet’s Automation Systems business line,” says Glen Irving, Vice President, Analyzer Products and Integration business unit, Automation Systems business line, Valmet.
Details of the transaction
In FY2022, net sales of the business amounted to approximately 120 million Euros. The value of the acquisition is 102.5 million Euros on a cash and debt-free basis, subject to ordinary post-closing adjustments. The acquired business will be included in Valmet’s financial reporting for the first time in Valmet’s second quarter 2024 financial reporting.
