Valmet and Neles Complete Merger

Valmet and Neles Merger Completed The merger of Valmet and Neles has been completed, and from now on Neles' commercial operations will continue within Valmet as the "Flow Control Business Line." Valmet announced that the merger of Valmet and Neles has been registered and that the commercial operations of Valmet and Neles have been integrated. Neles merged with Valmet as of 1 April 2022 and now constitutes Valmet's fifth business line, Flow Control. As a result, Valmet's business lines are now "Service," "Flow Control," "Automation Systems," "Paper and Pulp," and "Energy." The "Automation Systems" business line was previously called Automation.

Following the registration of the merger completion, Neles was dissolved and consolidated into Valmet.

Valmet President and CEO Pasi Laine: "We are pleased to begin our journey together as a stronger Valmet. I warmly welcome our new colleagues in the Flow Control business line. Valmet now has a unique and even stronger offering for global process industries and a solid platform for further business growth, particularly in automation systems and flow control solutions. From the beginning of the merger process, we have held a strong view on excellent long-term value potential for shareholders, industrial logic, and synergy potential. With our team of 17,000 professionals from around the world, we will now work together to achieve these objectives. I also want to thank everyone who contributed to the merger process and integration planning. We must acknowledge that without the excellent work done at Valmet and Neles in recent years, this merger would not have been possible. Now we have a solid foundation to move Valmet forward together." he said. Valmet's Flow Control business line is a global leader in flow control solutions and services. Valmet valve and valve automation technologies are known for quality, reliability, and the highest safety standards. Its customers in this field operate in oil and gas refining, pulp, paper and bioproduct industries, chemicals, and other process industries.