Valmet Oyj announced the merger between Valmet and Neles is planned to take place in the beginning of 2022 once the necessary merger control approvals by the relevant competition authorities are obtained. In the merged company Neles is planned to be organized as an independent organizational entity called Flow Control Business Line reporting directly to President and CEO Pasi Laine. Olli Isotalo, current CEO of Neles, has informed Valmet's management of his wish to retire from his current duties upon the successful completion of the Valmet-Neles merger. Since receiving this information, Valmet's management has been conducting a search process to find the most suitable candidate to continue the development of Flow Control Business Line.