November 22, 2010
Valmet Automotive has completed the acquisition of Karmann's convertible roof systems
(Valmet Automotive’s press release on November 22, 2010 at 9:15 a.m. local time)
Valmet Automotive has received the necessary regulatory permits to complete the Karmann roof business acquisition. The acquired business operations have been transferred to Valmet Automotive's ownership on Nov 21, 2010. The parties have agreed not to disclose the price of the transaction.
Valmet Automotive is a provider of engineering, manufacturing and business services for the automotive industry. In 2009 the company's net sales were EUR 56 million. It employs about 800 people. The company's head office is in Uusikaupunki, Finland, and it has units in Frankfurt, Germany, and Gothenburg, Sweden. A new unit will be opened this year in the United States. Valmet Automotive is a subsidiary of Metso Corporation.
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