Neles

Neles Oyj was a Finnish publicly traded company offering flow control products and services for process industries. The Neles trademark was originally filed in 1956 by Finnish engineers Antti Nelimarkka and Eino Santasalo.[2] In July 2019, it was announced that Metso Minerals and Outotec would merge in 2020 into a new large mineral company called Metso Outotec. At the same time, the remaining Metso was transformed into Neles.[3] The company started operations on 1 July 2020.[3]

Neles Oyj
TypeJulkinen osakeyhtiö
IndustryProcess industries
PredecessorMetso
Founded1 July 2020 (2020-07-01)
Defunct1 April 2022 (2022-04-01)
FateAcquired by Valmet
Headquarters
Vantaa
,
Finland
Key people
Jaakko Eskola (Chairman)
Simo Sääskilahti (Interim President and CEO)[1]
ProductsValves
Number of employees
2,850 (2020)[1]
Websitewww.neles.com

Valmet acquired 14.9 percent of Neles' shares on 1 July 2020.[4] On 13 July 2020, the Swedish company Alfa Laval made a two billion dollar takeover bid for Neles.[5][6] Valmet announced that it will not support Alfa Laval's takeover bid in July 2020[7] and increased its holdings in Neles in August 2020.[8]

Alfa Laval launched a public cash tender offer for all Neles shares on 13 August 2020.[9] Valmet and Neles announced on 2 July 2021 that the Boards of Directors of Valmet and Neles have agreed to combine. The Finnish Financial Supervisory Authority approved the merger on 2 September 2021.[10] Alfa Laval completed the sale of all its remaining shares in Neles on 14 January 2022.

In July 2021, the merger of Neles with Valmet[11] was announced, and this took place on 1 April 2022.[12] Neles is now a trademark for industrial valves and valve automation in process industries, and part of Valmet.[12]

References
  1. "Neles facts". Neles. Retrieved 5 February 2021.
  2. "Neles journey". Neles.com. Retrieved 22 June 2021.
  3. "Metso Corporation's partial demerger has been registered". Neles.com. Retrieved 13 August 2020.
  4. "Valmet acquires 14.9% ownership in the future Neles". Arvopaperi (in Finnish). Retrieved 15 August 2020.
  5. "Alfa Laval makes $2 billion bid for Finland's Neles, biggest owner sceptical". Reuters. Retrieved 21 August 2020.
  6. "Ruotsalainen Alfa Laval ostamassa Metso Outotecin ulkopuolelle jääneen Nelesin – kauppahinta miljardiluokassa". Yle (in Finnish). Retrieved 15 August 2020.
  7. "Valmetin toimitusjohtaja: Emme tue Alfa Lavalin tarjousta". Taloussanomat (in Finnish). Retrieved 15 August 2020.
  8. "Valmet kasvatti jälleen omistustaan Neleksessä". Kauppalehti (in Finnish). Retrieved 15 August 2020.
  9. "Alfa Laval commences the recommended public cash tender offer for all shares in Neles on 13 August 2020". Alfa Laval. Retrieved 13 August 2020.
  10. "The Finnish Supervisory Authority has approved the merger prospectus concerning the combination of Valmet Oyj and Neles Corporation". Finance.yahoo.com. 2 September 2021. Retrieved 1 January 2021.
  11. "Valmet and Neles to merge creating a leading company with a unique offering for process industries globally". Valmet. Retrieved 11 November 2022.
  12. "Merger of Valmet Oyj and Neles Corporation has been registered and the combination of Valmet's and Neles' business operations has been completed". Valmet. Retrieved 11 November 2022.


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