The acquired business specializes in process control and optimization solutions for batch, continuous and hybrid processes. It serves customers mainly in process industries such as food and beverage, pharmaceuticals, and chemical products. With a turnover of approximately USD 18 million, it employs 76 people in the United States and the Benelux countries. The acquisition excludes NovaTech Automation's other divisions.
The NovaTech Automation Process Solutions business, will be integrated into Valmet's Automation Systems business line. The acquired business, will be included in Valmet's financial reporting for the first time in the first quarter of 2023 financial reporting.
"The acquisition was complete as planned, and we are happy to welcome the new colleagues as well as the former NovaTech process solutions' customers to Valmet. The acquired business complements our automation offering well, bringing new synergies and opening the opportunity to serve both companies' current and future process automation customers with a wider offering," says Emilia Torttila-Miettinen, president - Automation Systems business line, Valmet.
"Valmet is a truly global, sustainable, and customer-focused process engineering organization. This acquisition is a great opportunity for the process organization, its employees, and customers," says Conrad Oakey, chief executive officer, NovaTech Automation.