Frankfurt/Main, 19.06.2024 – The Finnish leading global technology group Valmet has signed a joint venture agreement with Körber, a leading international technology group based in Hamburg, to further strengthen FactoryPal. FactoryPal, a venture of Körber, is a provider of software developed for tissue converting operations that improves shopfloor manufacturing performance and productivity. The software empowers tissue mill teams to achieve seamless operations by generating and utilizing high quality data combined with state-of-the-art user experience and advanced AI. According to the joint venture agreement, Valmet will become the majority shareholder of FactoryPal, which will continue operating as an own legal entity under the existing brand. The set up of the joint venture is subject to customary closing conditions. The closing of the agreement is estimated to occur at earliest on August 1st, 2024. The joint venture follows Valmet’s acquisition of Körber’s Business Area Tissue that was completed in November 2023.
A CMS team headed by lead partner Dr Peter Polke advised Valmet on all legal aspects of the joint venture.
Valmet, headquartered in Espoo, Finland, is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. With its automation systems and flow control solutions the company serves a wider base of process industries. Valmet’s shares are listed on the Nasdaq Helsinki. The company’s net sales in 2023 were approximately EUR 5.5 billion.
Press Contact
presse@cms-hs.com
