Neles

Last updated

Neles Oyj
Type Julkinen osakeyhtiö
Nasdaq Helsinki:  NELES
Industry process industries
Predecessor Metso
FoundedJuly 1, 2020;12 months ago (2020-07-01)
Headquarters,
Key people
Jaakko Eskola (Chairman)
Olli Isotalo (President and CEO) [1]
Products valves
Number of employees
2,850 (2020) [1]
Website www.neles.com

Neles Oyj is a Finnish publicly traded company offering flow control solutions for process industries. Neles designs and manufactures industrial valves and valve automation solutions. Neles trademark was origianlly 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] Company started operations on July 1, 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 on July 2020 [7] and increased its holdings in Neles on August 2020. [8]

Alfa Laval launched public cash tender offer for all Neles shares on August 13, 2020. [9] Valmet increased its stake in September 2020 to 29,8 %. [10] In November 2020, Alfa Laval withdrew its intention to acquire Neles, as only 33% of Neles's owners supported the acceptance of the tender offer. [11]

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References

  1. 1 2 "Neles facts". Neles. Retrieved 5 February 2021.
  2. "Neles journey". Neles.com. Retrieved 22 June 2021.
  3. 1 2 "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. "Valmet has proposed a statutory merger between Valmet and Neles to the Board of Directors of Neles". 29 September 2020. Retrieved 29 September 2020.
  11. "Final result of Alfa Laval's recommended public tender offer for all shares in Neles; Alfa Laval will not complete the tender offer". Neles. Retrieved 5 February 2021.