Valmet Enters Joint Venture with Körber to Advance Digital Offering for Tissue Converting

Author photo: Chantal Polsonetti
ByChantal Polsonetti
Category:
Acquisition or Partnership

Valmet and Körber have reached a joint venture agreement to further strengthen Körber venture FactoryPal, which offers software developed for tissue converting operations that improves shopfloor manufacturing performance and productivity.  According to the joint venture agreement, Valmet will become the majority shareholder of FactoryPal, and FactoryPal will continue operating as its own legal entity under the existing FactoryPal brand.

Tissue Converting

The addition of FactoryPal is intended to further strengthen Valmet’s offering of advanced Industrial Internet solutions and digital services to support customers in the tissue converting industry, where Valmet offers an end-to-end automation solution. FactoryPal software empowers tissue mill teams to achieve seamless operations by generating and utilizing high quality data combined with state-of-the-art user experience and advanced artificial intelligence (AI). FactoryPal acts as a trusted co-pilot on the shop floor.

Currently, 55 employees work for FactoryPal in Germany, Portugal, Italy, the USA and Brazil. The closing of the agreement is estimated to occur at earliest on August 1st, 2024. The joint venture follows Valmet’s acquisition of Körber’s Tissue Business Area that was completed in November 2023.

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