P3 - NEWS

(10.11.2021 / sbr)

Valmet Oyj and Neles Corporation target for completion of the merger on or before April 1, 2022

Valmet Oyj (“Valmet”) and Neles Corporation (“Neles”) announced on July 2, 2021 that Valmet and Neles will merge creating a company with unique offering for process industries globally. The completion of the merger was expected to occur on January 1, 2022, subject to all conditions for completion being fulfilled. Due to the regulatory review processes taking longer than previously estimated, the completion of the merger is now targeted to occur on or before April 1, 2022.

The length of the regulatory review processes has been impacted by third-party statements submitted to competition authorities.