Type | Julkinen osakeyhtiö |
---|---|
Industry | Process industries |
Predecessor | Metso |
Founded | 1 July 2020 |
Defunct | 1 April 2022 |
Fate | Acquired by Valmet |
Headquarters | , |
Key people | Jaakko Eskola (Chairman) Simo Sääskilahti (Interim President and CEO) [1] |
Products | Valves |
Number of employees | 2,850 (2020) [1] |
Website | www |
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]
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.[ citation needed ]
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]
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