March 22, 2022
Shrewsbury manufacturer's $5B merger with Finnish firm set for April 1
Photo | Courtesy of Neles Corporation
An ongoing merger between Neles Corporation and Valmet Oyj projected to be completed in April 2022.
By Sloane M. Perron
Neles Corp., a valve manufacturer with a facility in Shrewsbury, and Valmet Oyj, a technology developer in Finland, are set to complete their proposed merger on April 1.
Announced in July, originally the $5-billion merger was slated for January but was postponed to April due to regulatory review processes.
Valmet Oyj now has received all necessary competition approval to merge Neles into its organization, according to a Monday announcement from the Finnish company.
Stock dividends will be resolved by the annual general meetings of Neles and Valmet on Tuesday and a separate announcement will be made once the merger is officially finalized.
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