| Neles Oyj | |
| Fate: | Acquired by Valmet |
| Predecessor: | Metso |
| Location City: | Vantaa |
| Location Country: | Finland |
| Key People: | Jaakko Eskola (Chairman) Simo Sääskilahti (Interim President and CEO) |
| Industry: | Process industries |
| Products: | Valves |
| Num Employees: | 2,850 (2020)[1] |
was a Finnish publicly traded company offering flow control products and services for process industries. The Neles trademark was originally filed in 1956 by Finnish engineers Antti Nelimarkka and Eino Santasalo.[2] In July 2019, it was announced that Metso Minerals and Outotec would merge in 2020 into a new large mineral company called Metso Outotec. At the same time, the remaining Metso was transformed into Neles.[3] The company started operations on 1 July 2020.[3]
Valmet acquired 14.9 percent of Neles' shares on 1 July 2020.[4] On 13 July 2020, the Swedish company Alfa Laval made a two billion dollar takeover bid for Neles.[5] [6] Valmet announced that it will not support Alfa Laval's takeover bid in July 2020[7] and increased its holdings in Neles in August 2020.[8]
Alfa Laval launched a public cash tender offer for all Neles shares on 13 August 2020.[9] Valmet and Neles announced on 2 July 2021 that the Boards of Directors of Valmet and Neles have agreed to combine. The Finnish Financial Supervisory Authority approved the merger on 2 September 2021.[10] Alfa Laval completed the sale of all its remaining shares in Neles on 14 January 2022.
In July 2021, the merger of Neles with Valmet[11] was announced, and this took place on 1 April 2022.[12] Neles is now a trademark for industrial valves and valve automation in process industries, and part of Valmet.