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Valmet strengthens its automation offering by acquiring the Process Gas Chromatography business of Siemens AG

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ESPOO, Finland, July 17, 2023 /PRNewswire/ — Valmet entered into an agreement on July 14, 2023, to acquire the Process Gas Chromatography business of Siemens AG. The value of the acquisition is EUR 102.5 million on a cash and debt-free basis subject to customary adjustments. The acquisition is estimated to be completed on April 1, 2024, at the earliest, upon completion of carve-out measures and customary closing conditions.

Siemens Process Gas Chromatography business in brief

The Process Gas Chromatography business of Siemens AG is a market leader with its Maxum II Gas Chromatograph platform, Systems Integration, and Customer Services offering. Gas Chromatographs are used to measure the chemical composition in gases and evaporable liquids in all stages of production. With deep customer process knowledge in chemicals, liquefied natural gas (LNG), refining and biofuels, the business provides critical process insights to support its customers in ensuring and improving quality, sustainability, and safety worldwide.

In 2022, net sales of the business amounted to approximately EUR 120 million and pro-forma adjusted EBITDA margin was approximately 10%. The business employs around 300 people, and its main locations are in the USA, Germany, and Singapore.

The acquisition is in line with Valmet’s strategy and will further strengthen Valmet’s automation segment and process automation offering with process industry gas chromatograph and process analyzer systems offering. It also strengthens Valmet’s Automation Systems business footprint in North America, Asia-Pacific, and Europe. Valmet and Siemens will work closely together over the coming months to ensure a smooth transition, thereby maintaining a strong customer orientation and operational continuity. The acquired business is planned to be integrated into Valmet’s Automation Systems business line as a separate business unit.

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“Siemens’ Process Gas Chromatograph Maxum II products, systems and services offering complements well Valmet’s existing automation offering, industry reach and expertise. The Maxum brand is widely known in process industries and the products are used extensively by world’s leading industrial customers. Also, the large installed base provides further service opportunities and business stability. The business is planned to form a globally-lead business unit within the Automation Systems business line and has a joint customer base also with Valmet’s Flow Control business line. With this setup, supported by Valmet’s strong functions, we see opportunities for further profitable growth in this business. We look forward to welcoming the new colleagues from Siemens to Valmet,” says Emilia Torttila-Miettinen, President, Automation Systems business line.

“Today marks a new chapter in our 60-plus-year history of providing world-class gas chromatography products, solutions, and services to process industry customers around the world. By joining the Valmet team, we are excited to be partnering with an organization that shares many synergies with our Gas Chromatography and Integration business and a clear focus on employees and customers. We all are looking forward to exploring the many positive opportunities this partnership can bring going forward,” says Glen Irving, CEO, Siemens Gas Chromatograph & Integration Business.

Valmet has in recent years successfully expanded its Automation segment through the merger with Neles in April 2022 and the acquisition of NovaTech’s Process Solutions business in January 2023.

VALMET
Corporate Communications 

For further information, please contact:
Emilia Torttila-Miettinen, President, Automation Systems business line, tel. +358 40 831 75 95
Pekka Rouhiainen, Vice President, Investor Relations, Valmet, tel. +358 10 672 0020
Liisa Palmu, Director, Marketing and Communications, Automation Systems business line, tel. +358 50 3413717

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Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. With our automation systems and flow control solutions we serve an even wider base of process industries. Our 17,500 professionals around the world work close to our customers and are committed to moving our customers’ performance forward – every day.

The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. In 2022, a major milestone was achieved when the flow control company Neles was merged into Valmet. The combined company’s net sales in 2021 was approximately EUR 4.5 billion based on the respective company figures.

Valmet’s shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland.   

Follow us on valmet.com | Twitter | Twitter (IR) | LinkedIn | Facebook | YouTube | Instagram |

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View original content:https://www.prnewswire.co.uk/news-releases/valmet-strengthens-its-automation-offering-by-acquiring-the-process-gas-chromatography-business-of-siemens-ag-301878503.html

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Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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1inch Network Teams Up with Blockaid for Shield API

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1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

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Source: cryptotimes.io

The post 1inch Network Teams Up with Blockaid for Shield API appeared first on HIPTHER Alerts.

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