GLV is sold to Valmet
THREE-RIVERS — A page of history turns in the industrial world, of Three Rivers, with the sale of GLV at Valmet, at a cost of 113 million euros . The transaction will be finalized at the earliest on the 1st of April next.
In 2014, the founder of GLV Laurent Verreault and his son, Richard, had decided to acquire and privatize the division’s pulp and paper Group of GLV. At Three Rivers, about a hundred people work in the extensive facilities of the industrial park of High-Forges to the design and production of equipment. A year ago, a group of local managers was a purchaser of the plant GLV Manufacturing, which became a FAB 3R, which seemed to mark the end of the presence of the family Verreault in Trois-Rivières.
GLV, it was also three sites in the United States and a similar number in Sweden. And in India, a second modern plant was inaugurated in 2017. This deployment is complemented by sales offices in Brazil and Russia.
The group designs and markets equipment used in various stages of pulp and paper production, from the preparation of the dough until the sheet formation and finishing. GLV is a global provider of spare parts and offers services for refurbishment, modernization and optimization of equipment new or existing.
The net sales of the acquired business amounted to approximately 160 million euros and the EBITA margin was approximately 11 % for the year 2018. The acquired activities are 630 employees, of which 65 % are located in North America and the rest primarily in Europe, South America and India.
The transaction does not include the operations of washing, délignification oxygen and bleaching of GLV with Compact Press, the technology of pumps and mixers for the manufacture of chemical pulp, as well as the centre of products associated to Karlstad in Sweden.
“The acquisition provides an excellent strategic fit. It reinforces the global activity of services of Design, complements our technology offering and reinforces our presence and our local capacities, in particular in North America,” said by way of a press release the president and chief executive officer of Valmet, Pasi Laine.
The turnover of Valmet in 2018 was approximately 3.3 billion euros. The company, whose head office is in Finland, employs more than 12 000 professionals in the world.
It has not been possible to obtain feedback on the future of the facilities trifluviennes. But according to some internal sources, the transaction could be promising due to the fame of Valmet in the field of pulp and paper and energy.