HELSINKI, Dec. 19, 2019 (Press Release) -Metso’s valve business, future Neles Corporation, has signed a distribution agreement with Axel Larsson Maskinaffär AB in Sweden. It will help to further expand the coverage of Metso’s valve offering in all customer industries in Sweden, especially in the energy and mining sectors. The agreement will be effective from February 1, 2020.
“With the agreement, we can even better respond to the increased demand for our products and customers’ needs for support. We are looking for partners who are recognized players in their markets and recognize the value of our products. The companies also have the same things in focus, such as digitalization and service. We have great trust in Axel Larsson, which has seventy years of experience in the industry,” says Joakim Grenehed, Head of Metso’s valve business in Sweden.
Axel Larsson Maskinaffär AB is a family company in valves and instruments founded in 1949. The company’s headquarters is in Upplands Väsby, Stockholm County and has 42 employees.
Metso has a combination of directs sales, service and distribution networks to serve its customers globally.
About future Neles Corporation
The future Neles Corporation is a well-known flow control solutions and services provider to the oil and gas refining, pulp, paper and bioproducts industry, chemicals and other process industries. Neles employs 2,900 people and it has operations in more than 40 countries. Neles’ unaudited carve-out sales for full-year 2018 were EUR 593 million (January-September 2019: EUR 493 million) and carve-out operating profit was EUR 83 million (January-September 2019: EUR 75 million.)
Neles Corporation is planned to be created in a partial demerger of Metso, in which Metso’s Flow Control business would become the independent Neles Corporation and it would continue Metso’s listing on Nasdaq Helsinki. Simultaneously, Metso’s Minerals Business would combine with Outotec to create Metso Outotec.
The partial demerger is targeted to be completed in the second quarter of 2020, subject to the receipt of all required regulatory and other approvals. The Extraordinary General Meetings of both Metso and Outotec approved the transaction on October 29, 2019.
Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 3.2 billion in 2018. Metso employs over 14,000 people in more than 50 countries.