Neles' acquisition of the valve and pump businesses of the Finland-based technology company Flowrox has been successfully completed. With this acquisition, Neles expands its offering and exposure to the mining and metals industry.

"Diversification of our customer industries is a key component of Neles' strategy. Flowrox is a well-known niche player in flow control within mining and metals, and it has the right offering and very strong competence and know-how. This acquisition will enable Neles to better leverage the attractive growth opportunities in minerals processing," says Olli Isotalo, President and CEO, Neles.

"We are delighted to welcome 110 industry professionals to Neles. With our expanded offering, a wide service network, and industry-leading knowledge in mining, metals and slurry applications, we can make a difference in our customers' sustainable productivity targets," says Esa Lumme, Head of Mining and Metals business, Neles. 

The transaction includes the acquired businesses as well as customer agreements and the Flowrox trademark, which will be transferred to Neles. The acquisition was announced in July 2021 and it will be reported as of Q4 2021.

About the Flowrox valve and pump businesses

The Flowrox valve and pump solutions are used in a variety of process industries, especially in the mining, minerals processing, metallurgy, construction, energy, environment, and chemical industries. Flowrox is a global provider of pinch valves and knife-gate valves and peristaltic pumps, amongst other products. 

For further information, please contact:

Kaisa Voutilainen, Head of Communications and Marketing, Neles Corporation, tel. +358 400 188414, e-mail: kaisa.voutilainen@neles.com

Timo Hänninen, Executive Vice President, Valve Equipment business line, Neles Corporation, tel. +358 40 585 3042

Neles is one of the leading providers of mission-critical flow control solutions and services for process industries. With our global team of experts and innovative solutions, we help our customers to improve their process performance and ensure the safe flow of materials. Neles is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 576 million in 2020. Neles employs about 2,850 people in approximately 40 countries.

www.neles.com, Twitter.com/nelesflow (http://www.twitter.com/nelesflow)