Valmet Oyj, a Finnish company, is a developer and supplier of process technologies, automation systems and services for the pulp, paper, energy industries.

Valmet's CEO Laine rebuked the board of Neles for ill-advised actions and accepting a price that was too low.

Laine had previously managed the business operations of Neles and thought that Valmet could in time have bought more of its stock.

[5] In January 2021, Valmet reported that it would supply the mills of the Swedish company Renewcell with equipment to produce dissolving pulp from recycled clothes and textiles.

Valmet had been developing recycling technology with Renewcell for years, and the companies constructed a pilot plant and a factory in Sundsvall together.