Neles Group

About future Neles CorporationThe 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 about 2,900 people and it has operations in more than 40 countries. Neles’ unaudited carve-out sales for full-year 2019 were EUR 660 million and its carve-out operating profit was EUR 93 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 closing of the transaction is currently expected to take place on June 30, 2020, subject to regulatory approvals. The Extraordinary General Meetings of both Metso and Outotec approved the transaction on October 29, 2019.