Blockchain Press Releases
Valmet strengthens its automation offering by acquiring the Process Gas Chromatography business of Siemens AG
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.
“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
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.
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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
Blockchain Press Releases
Institutions Have Doubled their Bitcoin Allocations this Year, New Bybit Report Shows
DUBAI, UAE, Dec. 1, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, has released new research offering analysis of how traders adapt their strategies in fluctuating market conditions. “Navigating Bull and Bear Markets — A Dive Into Asset Allocation,” uses Bybit’s proprietary data and is the first initiated by a crypto exchange.
The report provides a detailed examination of asset allocation strategies employed by different cohorts — institutions, VIPs, and retail traders — especially in the volatile market environment since December 2022.
Key findings include:
- Institutional Investors: Predominantly holding 45% in stablecoins, 35% in Bitcoin, and 15% in Ether, institutions emphasize liquidity and strategic diversification. Notably, their Bitcoin holdings nearly doubled in the first three quarters of 2023.
- Ether Trends: A decline in institutional interest in Ether has been noted, although upcoming market developments, like the rumored BlackRock spot Ether ETF, could shift the trend.
- Retail Trader Behavior: Retail traders are observed to hold more stablecoins, suggesting a more cautious allocation to riskier assets compared to traditional finance norms.
- Altcoin Investments: Both retail and VIP traders show higher altcoin holdings than institutional investors, although these remain a minor part of total portfolios, indicating caution, perhaps due to a hangover from the recent bear market.
“This report is a testament to Bybit’s commitment to empowering our users with actionable insights,” said Ben Zhou, co-founder and CEO. “Understanding how different market participants navigate the complexities of bull and bear markets is crucial. We believe this research will not only enlighten our traders but also contribute to the broader crypto community’s understanding of market dynamics.”
#Bybit / #TheCryptoArk
About Bybit
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X (Twitter) | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/institutions-have-doubled-their-bitcoin-allocations-this-year-new-bybit-report-shows-302003220.html
Blockchain Press Releases
Set Sail on a Crypto Voyage: Bybit Announces ByBUIDLERs Cruise Contest to Dubai in Partnership with Sea Summit
DUBAI, UAE, Dec. 1, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, is excited to announce the ByBUIDLERs Cruise Contest, an extraordinary opportunity for crypto enthusiasts in India. This contest offers a chance to win a luxurious 10-day cruise from Mumbai to Dubai, coupled with an exciting Sea Summit experience and a visit to Bybit’s Dubai office.
Introducing ByBUIDLERs
ByBUIDLERs is Bybit’s initiative that combines grassroots enthusiasm with the thrilling world of cryptocurrency. Designed for crypto aficionados, the program invites participants to engage with the community, create compelling content, and contribute to Bybit’s growth and outreach.
Participation Steps
- Enlist as a ByBUIDLER: To join, provide your name, email, and social media profile link. Express in 100 words your excitement about becoming a ByBUIDLER via our Google form.
- Take the Bybit 5th Anniversary Personality Quiz: Complete the personality quiz and share your results on social media, highlighting how your personality influences your crypto journey.
- Participants must post their entries before December 6th, tagging @Bybit and @TheSeaSummit, using the hashtags #ByBUIDLERcruisetrip and #High5Bybit.
Rewards
The top five most creative ByBUIDLERs, judged by their engagement and creativity, will embark on the Sea Summit 10-day luxury cruise, setting sail from Mumbai to Dubai. The cruise is also a crypto summit where winners will meet leaders in crypto, participate in educational events, and attend themed party nights.
#Bybit / #TheCryptoArk
About Bybit
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For media inquiries, please contact: [email protected]
For more information please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X (Twitter) | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/set-sail-on-a-crypto-voyage-bybit-announces-bybuidlers-cruise-contest-to-dubai-in-partnership-with-sea-summit-302003138.html
Blockchain Press Releases
Bitget Wallet Integrates TON Mainnet, Prepares for TON and Telegram-Based Innovative Products
Bitget Wallet Integrates TON Mainnet, Prepares for TON and Telegram-Based Innovative Products
VICTORIA, Seychelles, Nov. 30, 2023 /PRNewswire/ — The leading Web3 trading wallet, Bitget Wallet (formerly known as BitKeep Wallet), now supports TON (The Open Network). TON, a high-performance Layer 1 blockchain, was initially designed by the Telegram team and later advanced by the community.
The TON integration allows users to add the TON network with a single click, manage assets, and perform on-chain transactions. Looking ahead, Bitget Wallet plans to further expand its services to include support for TON ecosystem DApps, token trading, and candlestick chart features. Additionally, Bitget Wallet is set to launch innovative products and services based on TON and Telegram, such as the Telegram Red Packet feature.
TON, with its Telegram-originated blockchain solution, is designed for high scalability, targeting millions of transactions per second (TPS) to serve Telegram’s extensive user base. This performance capability positions TON as a pivotal player in the evolving digital landscape. By building a Web3 ecosystem within Telegram, TON is committed to bridging Web2 and Web3, promoting the widespread adoption of cryptocurrencies and decentralized technologies.
Bitget Wallet’s support for TON reflects a recognition of its innovation and anticipation of Telegram’s user base venturing into Web3. This aligns with Bitget Wallet’s ongoing commitment to providing convenient, user-friendly product experiences and opening the doors to Web3 for its users.
To date, Bitget Wallet has served over 12 million users worldwide, becoming one of the most popular crypto hot wallets globally, with its app ranking fourth in global downloads in October. The integration with the TON mainnet is also expected to enhance the liquidity and user base of the TON network.
About Bitget Wallet (Web3 trading wallet)
Formerly known as BitKeep, Bitget Wallet stands as Asia’s largest and global frontrunner among all-in-one Web3 trading wallets. We offer a comprehensive range of on-chain products and DeFi services to our users, including wallet functionality, Swap feature, NFT trading, DApp browsing, MPC Wallet and more.
With a 5-year legacy, Bitget Wallet has garnered acclaim from over 12 million users worldwide and has secured partnerships with prominent industry leaders including Ethereum, BNB Chain, Arbitrum, Polygon, Solana, Base, and others. This success stems from our commitment to consistently delivering secure and convenient products and services.
In March 2023, Bitget, a leading crypto derivatives trading platform made a substantial $30 million investment in BitKeep, acquiring a controlling stake. Following this strategic move, BitKeep underwent a transformative and strategic brand evolution in August, officially rebranding itself as Bitget Wallet.
For more information, visit: Website | Twitter | Telegram | Discord
View original content:https://www.prnewswire.co.uk/news-releases/11-30—bitget-wallet-integrates-ton-mainnet-prepares-for-ton-and-telegram-based-innovative-products-302001956.html
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