Valmet Corporation

Valmet Corporation

Valmet Corporation is a leading global developer and supplier of services and technologies for the pulp, paper and energy industries. Our 11,000 professionals around the world work close to our customers and are committed to moving our customers’ performance forward – every day. The company has over 200 years of industrial history and was reborn through the demerger of the pulp, paper and power businesses from Metso Group in December 2013. Valmet’s net sales in 2012 were approximately EUR 3 billion. Valmet’s objective is to become the global champion in serving its customers. Valmet’s head office is in Espoo, Finland and its shares are listed on the NASDAQ OMX Helsinki Ltd.

Company details

Keilasatama 5 / PO Box 11 , Espoo , FI-02150 Finland

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Business Type:
Manufacturer
Industry Type:
Energy - Bioenergy
Market Focus:
Globally (various continents)
Employees:
Over 1000
Turnover:
more than $1,000,000,000 US

This company also provides solutions for other industrial applications.
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Valmet Corporation is a leading global developer and supplier of services and technologies for the pulp, paper and energy industries. Our 11,000 professionals around the world work close to our customers and are committed to moving our customers’ performance forward – every day.

Valmet’s services cover everything from maintenance outsourcing to mill and plant improvements and spare parts. Our strong technology offering includes entire pulp mills, tissue, board and paper production lines, as well as power plants for bio-energy production.

The company has over 200 years of industrial history and was reborn through the demerger of the pulp, paper and power businesses from Metso Group in December 2013. Valmet’s net sales in 2013 were approximately EUR 2.6 billion. Valmet’s objective is to become the global champion in serving its customers.

Valmet’s head office is in Espoo, Finland and its shares are listed on the NASDAQ OMX Helsinki Ltd.

Valmet has 200 years of industrial history
The history of Valmet Corporation goes all the way back to the 1750s. It was then that a small shipyard was established in the Viapori fortress on the islands outside Helsinki. In the early 20th century it ended up under the ownership of the Finnish state and became part of Valmet. Tamfelt was established in 1797 and became one of the leading suppliers of technical textiles. These operations are now part of Valmet’s Services business line.

Several of the companies forming part of the new Valmet Corporation date back to the 19th century. The Karlstad Mekaniska Werkstad (KMW) in Sweden began in 1865. Beloit Corporation began in 1858 as a foundry in Wisconsin, US, in the city of Beloit. Sunds Bruk, the predecessor of Sunds Defibrator Industries Ab, was established in Sweden in 1868.

In 1946, several metal workshops owned by the Finnish state were merged to form the Valtion Metallitehtaat (the State Metal Works). At the beginning of 1951, the Valtion Metallitehtaat group was renamed Valmet Oy, and the product range expanded over the years to include ships, aircraft, weapons, locomotives, tractors, marine engines, elevators and, of course, paper machines.

Valmet began the manufacturing of paper machines at the former Rautpohja artillery works in Jyväskylä, Finland in the early 1950s and delivered its first paper machine in 1953. Valmet became an internationally significant paper machine supplier in the mid-1960s, when it delivered several machines to the world’s leading paper industry countries.

In the 1980s and 1990s, Valmet focused increasingly on paper technology. Valmet sold its shipbuilding industry, and the manufacture of rolling stock, elevators and tractors. In turn, Valmet bought Wärtsilä's paper finishing machinery unit, the Swedish company Karlstads Mekaniska Werkstad (KMW) and the board machine manufacturer Tampella Papertech.

1999 - Merger of Valmet and Rauma to form Metso
Metso Corporation was created as a result of the merger of Valmet Corporation and Rauma Corporation (“Rauma”) in July 1999. At the time Valmet was a paper and board machine supplier, while Rauma’s operations were focused on fiber technology, rock crushing and flow control solutions. The merger produced an equipment supplier serving the global process industry. The new combined company was initially given the name Valmet-Rauma Corporation. The name was changed to Metso Corporation in August 1999. Shares in Metso were listed on the Helsinki Stock Exchange, which replaced the listings of its predecessor companies.

2000-2009 - Important mergers and acquisitions in pulp, paper and power businesses
In 2000, Valmet (at the time part of Metso) acquired Beloit Corporation’s tissue and paper making technology as well as its service operations in the United States and France.

In December 2006, Valmet completed the acquisition of the Pulping and Power businesses from Aker Kvaerner ASA of Norway. This was done in order to improve the company’s capabilities as a full-scope supplier to the pulp and paper industry and also to respond to the promising business opportunities in the power industry and biomass technology.

At the end of 2009, Valmet acquired Tamfelt Corporation, one of the world’s leading suppliers of technical textiles.

2013 - Demerger of Metso to Valmet and Metso
Metso Corporation’s Extraordinary General Meeting (EGM) held on October 1, 2013, approved the Board of Directors’ proposed plan for a partial demerger and decided to demerge Metso into two companies: Valmet and Metso. On December 31, 2013 Metso’s Pulp, Paper and Power business was transferred to the new company, Valmet Corporation, and the Mining and Construction and Automation business remained part of Metso.

Valmet has around 11,000 professionals working close to customers in 30 countries. Valmet’s net sales in 2013 were approximately EUR 2.6 billion.

Valmet Corporation is a leading global developer and supplier of services and technologies for the pulp, paper and energy industries. Our services cover everything from maintenance outsourcing to mill and plant improvements and spare parts. Valmet’s objective is to become the global champion in serving its customers.

Valmet will focus on delivering technology and services globally to industries that use bio-based raw materials. Valmet’s vision is to become the global champion in serving its customers, and its mission is to convert renewable resources into sustainable results.

Valmet’s main customer industries are pulp, paper, and energy. All of these are major global industries that offer growth potential for the future. Valmet will complement its core business by applying its technology and know-how to industries beyond biomass, particularly in the energy sector.

Valmet’s product and service portfolio consists of productivity-enhancing services, plant upgrades and rebuilds, new cost-efficient equipment and solutions for optimizing energy and raw material usage, and technologies increasing the value of its customers’ end products.

Mission:
Converting renewable resources into sustainable results.

Strategy:
Valmet develops and supplies competitive technology and services for the pulp, paper and energy industries.
We are committed to moving our customers’ performance forward.

Must Wins:
1) Customer excellence

  • Strengthen our presence close to customers and growth markets.
  • Strengthen Key Account Management to enhance growth at the customer.
  • Drive service growth through long term agreements and expanded customer base.

2) Leader in technology and innovation

  • Improve product cost competitiveness to increase gross profit.
  • Create new revenue from biotechnology solutions and new offering.

3) Excellence in processes

  • Reduce quality costs.
  • Savings in procurement.
  • Reduction in lead times.
  • Improve health and safety.
  • Improve project and service margin.
  • Implement cost competitiveness program to reach EUR 100 million cost savings.

4) Winning team

  • Strengthen high-performance culture.
  • Continue further globalization of our capabilities to be closer to customers.

Vision:
To become the global champion in serving our customers.

Our values form the foundation for everything we do at Valmet. Our values: support our vision and strategy, guide our behavior and decision making, connect us as Valmet, and inspire us as a community.

Responsibility for the control and management of Valmet is divided between the general meeting of shareholders, the Board of Directors and the President and Chief Executive Officer (CEO). Shareholders participate in the control and management of Valmet through resolutions passed at general meetings of shareholders.

Valmet’s Board of Directors and the President and CEO will be responsible for the management of Valmet. Valmet’s Board of Directors will seek to ensure that good corporate governance practice is applied within Valmet.

The President and CEO appointed by the Board of Directors of Valmet is responsible for the management and supervision of Valmet’s day-to-day business. Other executives will have an assisting and supporting role.

Valmet’s operating model consists of three business lines, five areas, and four support functions. The business lines are Services, Pulp and Energy, and Paper; and the geographical areas are North America, South America, EMEA (Europe, Middle-East and Africa), Asia-Pacific, and China. The four main support functions will be Finance, Strategy and Operational Development, HR, and Communications and Marketing.

Valmet has a long history of innovations for the pulp, paper and energy industries. Valmet’s focus on research and development work is currently aimed at cost-efficient, modularized and standardized solutions with the right technology scope. These solutions for example improve raw material and energy efficiency and also lower customers' investment costs. The other focus area is biomass conversion technologies.

The company has an extensive intellectual property portfolio with about 1,800 protected innovations. The company’s research and development work is carried out mainly in Finland and Sweden by the technology and research and development organizations of the business lines. Additionally, a portion of the research and development work is carried out in collaboration with a network of customers, research institutions and universities.

Valmet has an extensive set of pilot facilities, which are used for demonstration trials and for specific projects with customers as well as for proprietary development work.

Extensive technological know-how and a broad process understanding enable us to introduce new products and services continuously to meet our customers’ needs.