Valmet announced on September 16, 2016, that Suzano Papel e Celulose S.A. had filed a request for arbitration against Valmet Celulose, Papel e Energia Ltda, Valmet AB and Valmet Technologies Oy, subsidiaries of Valmet Oyj, claiming approximately EUR 80 million. Valmet disputed the claims brought by Suzano and pursued claims of its own against Suzano.
The parties of the dispute have now reached an agreement and the arbitration proceedings have been closed. The outcome of the agreement will not have significant impact on Valmet's financial result for 2018.
For further information, please contact:
Rasmus Oksala, General Councel, Valmet, tel. +358 10 672 0026
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers.
Valmet's strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our advanced services and automation solutions improve the reliability and performance of our customers' processes and enhance the effective utilization of raw materials and energy.
Valmet's net sales in 2017 were approximately EUR 3.1 billion. Our more than 12,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day. Valmet's head office is in Espoo, Finland and its shares are listed on the Nasdaq Helsinki.