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    NELES   FI4000440664


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13.023 EUR   -1.79%
07/29NELES CORPORATION : Managers' transactions - Jaakko Eskola
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Neles Oyj : responds to customers' changing needs by enhancing the production of industrial valves in Vantaa, Finland

06/14/2021 | 03:31am EDT

Neles Corporation's press release on June 14, 2021, at 10:30 a.m. EEST

Neles is optimizing its production operations and will commission a new production unit at its valve factory located in Vantaa, Finland. The project enables Neles to improve the availability and delivery times of its valve solutions and further develop the environmental performance of the Vantaa technology center. The new unit is scheduled to start operations in early 2022.

"Global business requires modern, efficient, and responsible production that adapts to customers' needs and guarantees deliveries even in exceptional circumstances, such as that experienced throughout the Covid pandemic. In the past few years, availability in particular has become an increasingly critical factor for our customers, as confirmed by our annual customer survey. By developing our delivery processes alongside the production solutions, we can further improve the availability and delivery times of our products, while preparing for future needs," says Timo Hänninen, Head of Valve Equipment Business Line, Neles.

Targeting minimized emissions and industry-leading production efficiency

Every year, a total of 130,000 valves, valve controls, and actuators are manufactured by Neles at the Vantaa factory for delivery to customers operating in different process industries around the world. The new unit will focus on the manufacturing of high-volume valve products. As a part of the project, the production process and the factory operating model will be optimized, especially from the perspective of project deliveries.

"The new unit and the layout modifications to the current factory will free up space for the production of special valves and bring more efficiency to demanding project deliveries. In addition, we are constantly developing the environmental and energy efficiency of our operations. For example, we are currently investing in renewable electricity production and improving the waste heat recirculation system of the valve factory painting line to decrease CO2 emissions," says Timi Nieminen, Director of Neles' Vantaa factory.

Caption One of Neles main technology centers is located in Vantaa Finland The factory started its operations in 2011

One of Neles' main technology centers is located in Vantaa, Finland. The factory started its operations in 2011.

During the summer of 2021, a solar power station will be installed on the roof of the Vantaa factory to generate electricity for the factory's operations. With a total of 2,250 panels, the solar power station will generate approximately 780,000 kWh of electricity in a year. This amount equals the annual electricity consumption of nearly 400 two-room apartments. By utilizing solar power, Neles will decrease its CO2 emissions by approximately 110 tonnes in a year.

65 years of product development and production of valve solutions

With valve manufacturing in the region dating back to 1956, Vantaa is one of Neles' main technology centers. The factory's operations permanently involve over 400 Neles employees and 50 business partner employees. In all, Neles employs approximately 800 people in Vantaa. In addition to Finland, Neles has its own valve technology and production centers in North America, Germany, South Korea, China, Brazil, Saudi Arabia, and India.

For more information, please contact:

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

Timi Nieminen, Plant Director, Neles, Vantaa, tel. +358 40 553 6764, E-mail: timi.nieminen@neles.com

Kaisa Voutilainen, Head of Communications and Marketing, Neles, tel. +358 400 188 414, E-mail: 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 576 million in 2020. Neles employs about 2,850 people in approximately 40 countries.

www.neles.com, Twitter



(c) 2021 Cision. All rights reserved., source Press Releases - English

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Sales 2021 608 M 721 M 721 M
Net income 2021 59,1 M 70,1 M 70,1 M
Net Debt 2021 42,5 M 50,4 M 50,4 M
P/E ratio 2021 33,2x
Yield 2021 1,63%
Capitalization 1 959 M 2 323 M 2 325 M
EV / Sales 2021 3,29x
EV / Sales 2022 2,96x
Nbr of Employees 2 878
Free-Float 60,5%
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Managers and Directors
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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