Valmet Acquires U.S.-Based Coldwater Seals
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Valmet acquired North American-based Coldwater Seals, Inc., a global provider of consumables and services to the pulp and paper industry. Coldwater operates manufacturing facilities in the United States and Sweden. The value of the acquisition will not be disclosed.
Coldwater manufactures and supplies paper process parts, including suction roll seal strips, ceramics, plastics, doctoring products and other specialty products. It is the global market leader for suction roll seals and plastic dewatering elements.
In the last twelve months, the company had net sales of approximately EUR 15 million. The acquired operations employ about 60 people, who are located in Atlanta, Georgia and Appleton, Wisconsin in the U.S.; and Kil, Sweden.
Coldwater operates globally and has technical service representatives in more than 70 countries.
"We are continuously strengthening our stable business, meaning Services and Automation," said Aki Niemi, Business Line President, Services at Valmet. "This acquisition supports strategy to expand our consumables offering. I warmly welcome the new skilled professionals to become part of the Valmet team and into our strong, global Services organization."
David Withers, Owner and CEO of Coldwater Seals, added, "I am convinced that the future of Coldwater is in good hands with Valmet."
