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    NELES   FI4000440664

NELES OYJ

(NELES)
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Neles Oyj : ' new state-of-the-art valve technology center in China starts operations

07/07/2020 | 03:01am EDT

Neles Corporation's press release, July 7, 2020 at 10:00 EEST

Neles' new valve technology center in Jiaxing, China, has started its operations. The new plant strengthens Neles' valve and related products production capabilities and increases availability for customers across various process industries, in China and globally. The greenfield investment to respond to the growing demand of reliable valve technologies was announced in October 2018.

"This is an important strategic addition to Neles' global manufacturing footprint and good news for our valve customers around the world. With this investment, our target is to further improve our service and delivery capabilities to meet the diverse and evolving needs of our customers," says Olli Isotalo, President and CEO of Neles.

Jiaxing's manufacturing layout is designed with the latest technologies for efficient and environmentally friendly mass production of high-volume standard valve products.

"The principle has been to ensure the most reliable and emission-free production processes. For example, the liquid recycling system at Jiaxing allows reusing 95 % of the liquids used in machining or testing processes and thus minimizing formation of hazardous substances. Also, the Regenerative Thermal Oxidizer in use allows as much as 99 % organic compound free painting process", explains Kevin Tinsley, Head of Valve Operations at Neles.

The new plant will produce over 100,000 valves per year. With access to a variety of competitive logistic options, the products from Jiaxing can be shipped to customers or Neles supply centers around the globe with dramatically improved lead-times.

Strong valve production foothold in China and globally

In addition to Jiaxing, Neles' valve technology center in China in the Waigaoqiao Free Trade Zone in Shanghai continues operations, focusing on highly engineered products. Neles employs approximately 400 flow control specialists at four main locations in China, serving all process industries.

"China is an extremely important market for our business. The new technology center will have a key role in strengthening our R&D capability in China as well as our global footprint and position as a leading provider of reliable flow control solutions," Isotalo concludes.

Today, Neles has valve technology or production centers around the world in North America, Germany, Finland, South Korea, Saudi Arabia and India.

 

More information:

Kevin Tinsley, Senior Vice President, Valves Operations, Neles Oyj, tel. +1 508 852 0215, email: kevin.tinsley@neles.com

Tan HangPheng, Head of APAC market area, Neles Corporation, tel. +86 147 822 563 82, email: hangpheng.tan@neles.com

Kaisa Voutilainen, Head of Communications and Marketing, Neles Corporation, tel. +358 400 188 414, email: kaisa.voutilainen@neles.com

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 660 million in 2019. Neles employs about 2,900 people in approximately 40 countries. Neles was created in the partial demerger of Metso Corporation, and trading in Neles stock started on July 1, 2020.

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

https://news.cision.com/neles-oyj/r/neles--new-state-of-the-art-valve-technology-center-in-china-starts-operations,c3149949

https://news.cision.com/neles-oyj/i/image--neles-jiaxing-2020-1,c2804380

https://news.cision.com/neles-oyj/i/image--neles-jiaxing-2020,c2804385

(c) 2020 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 603 M 720 M 720 M
Net income 2021 64,2 M 76,6 M 76,6 M
Net Debt 2021 38,0 M 45,4 M 45,4 M
P/E ratio 2021 28,5x
Yield 2021 1,69%
Capitalization 1 820 M 2 174 M 2 172 M
EV / Sales 2021 3,08x
EV / Sales 2022 2,78x
Nbr of Employees 2 825
Free-Float 60,3%
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Last Close Price 12,12 €
Average target price 12,06 €
Spread / Average Target -0,52%
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Managers and Directors
NameTitle
Olli Isotalo President & Chief Executive Officer
Jaakko-Veikko Eskola Chairman
Vesa Erolainen Chief Information Officer
Elisa Kristiina Erkkilä Chief Compliance Officer & General Counsel
Christer Göran Harald Gardell Vice Chairman
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