Latest news with #ShottonMill
Business News Wales
30-06-2025
- Business
- Business News Wales
Foreign Investment Growth Leads to Thousands More Jobs in Wales
Shotton Mill Foreign direct investment into Wales grew significantly in the last year, with large increases in projects secured and jobs created, new figures show. Wales secured 65 projects in 2024-25, a 23% increase on the previous financial year. This was the second highest increase of any nation or region of the UK. This saw 2,470 new jobs created in Wales, a 30% increase compared to 2023-24. Again, this was the second highest increase of any nation or region across the UK. The results have been published by the Department for Business and Trade in its annual report on Foreign Direct Investments (FDI) in the UK. A total of 1,652 jobs were also safeguarded in Wales by direct foreign investment in 2024-25 – the highest number of all nations and regions. Investments in the last year include at Shotton Mill Ltd, which is owned by Turkish corporate Eren Holdings. The North Wales-based company will become the UK's largest paper-manufacturing campus thanks to a £1 billion redevelopment. Supported by £13 million Welsh Government funding, it will see 147 jobs safeguarded and create a further 220 when fully commissioned. Elsewhere, Halton Flamgard, which is part of the Finish Halton Group, has relocated to the recently completed RYB1 unit in Ebbw Vale, following an £8.9 million investment by Welsh Government in the low carbon facility. Part of a planned expansion, it will see employee numbers increase at the company from 70 to 168 by 2028. Welsh Government works to attract foreign investment to Wales in a number of ways, from promoting core strengths at sector events to offering advice to companies on areas such potential locations, talent, business networks and links with academia. Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: 'Despite political and economic factors impacting growth globally, Wales has again seen a significant increase in foreign investment. 'There has been a large increase in jobs created through FDI in 2024-25 and the continuing growth of 'new' investment into Wales has reached a nine-year high. 'This is proof that our proactive approach to promoting Wales globally as a great place to do business is delivering. From Delhi to San Diego we have further raised the profile of Wales as an outstanding investment destination with key sectors that boast world class capabilities.' First Minister Eluned Morgan said: 'Creating high quality jobs in key sectors is a priority for this government, and attracting overseas investment is a key part of our economic strategy. 'We are focused as a government on economic growth, and these figures highlight the confidence investors are showing in the Welsh economy. Our International Investment Summit later this year will provide a further opportunity to showcase Wales to the world and attract even more investment into Wales.'
Yahoo
05-06-2025
- Business
- Yahoo
Valmet unveils new financial reporting structure and operating model
Finnish company Valmet has revised its financial reporting structure to better reflect its new strategy and operating model. The new operating model and reporting structure will be effective from 1 July 2025. The revised structure will see Valmet reporting under two main segments, Biomaterial Solutions and Services and Process Performance Solutions. The biomaterial segment will offer technology solutions and services for the life cycle of customers in the pulp, paper, and energy industries. It is divided into three business areas: Pulp, Energy and Circularity; Packaging and Paper; and Tissue. These business areas will focus on integrating technology deliveries with life cycle services to enhance customer proximity and value creation. Process Performance Solutions, meanwhile, will provide flow control technologies and automation solutions, serving a wide range of customer industries globally. This segment includes the Flow Control business area and the Automation Solutions business area. For each business area, Valmet will disclose orders received, net sales, and personnel numbers. The company will also continue to provide financial data for five geographical areas: North America, Central America, EMEA, China, and Asia-Pacific. The new reporting structure aligns with Valmet management's approach to monitoring operational performance. Financial information will be restated to reflect the new structure in the January-September 2025 Interim Review, with unaudited data for 2024 and the first quarter of 2025 provided for comparison. In the first quarter of 2025, both segments received total orders worth €1.3bn ($1.5bn) and recorded net sales of €1.18bn. Valmet has also outlined its 2030 financial targets, aiming for a 5% organic net sales growth over the cycle, a comparable earnings before interest, taxes, and amortisation margin (EBITDA) of 15%, a comparable return on capital employed before taxes of 20%, and maintaining gearing below 50%. The company has set strategic missions for each segment. The Biomaterial Solutions and Services segment aims to advance circularity, with a focus on life cycle services, innovation towards circularity, and product cost competitiveness. It targets doubling organic growth in biomaterial services to 8% and reaching a 14% comparable EBITA margin by 2030. The Process Performance Solutions segment's mission is to unlock resource efficiency, with priorities such as leading life cycle value, customer-focused innovation, and growth in high-quality technologies. By 2030, this segment aims to accelerate organic growth to over double the market rate and achieve a 20% comparable EBITA margin. Valmet reiterates its 2025 guidance, estimating that net sales and comparable EBITA will remain at the previous year's levels of €5.35bn and €609m, respectively. Earlier this week, Valmet secured a furnace upgrade and a long-term service agreement from Eren Holding for Shotton Mill in the UK. "Valmet unveils new financial reporting structure and operating model" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
02-06-2025
- Business
- Yahoo
Valmet secures Shotton Mill furnace upgrade contract in UK
Finnish company Valmet has secured a furnace upgrade and a long-term service agreement from Eren Holding for Shotton Mill in the UK. The upgrade is scheduled for completion by the end of 2025. The order, which was included in Valmet's first-quarter orders received this year, has not had its value disclosed. This strategic move aims to enhance the mill's operations and extend the life of its bubbling fluidised bed (BFB) boiler furnace. The majority of the mill's BFB boiler furnace will be fitted with coated panels designed to protect against corrosion and erosion, prolonging the furnace's lifespan. In addition to the physical upgrade, Valmet will provide Shotton Mill with comprehensive support through a long-term service agreement, which includes site inspection services. The service agreement also includes a customised online training package for Shotton Mill's employees. Shotton Mill energy manager Mehmet Arel said: 'We are delighted to continue strengthening our partnership with Valmet as they deliver this vital furnace upgrade and long-term service agreement to Shotton Mill.' Valmet EMEA service manager Nigel Earp said: 'We are very pleased to be awarded the furnace upgrade and are looking forward to safely and successfully delivering the project for Shotton Mill. 'The service agreement will further strengthen our cooperation with the customer, enabling us to develop the mill's operations together over the coming years.' Shotton Mill is currently implementing a substantial investment programme, which includes the installation of a new containerboard production line and a tissue production line, both provided by Valmet. Once these lines are operational, the mill will possess the capability to produce 750,000 tonnes per annum (tpa) of containerboard and 67,000tpa of tissue paper. In February 2025, Valmet secured a contract to supply its automation and quality management solutions to Shandong Jintianhe Paper in China. "Valmet secures Shotton Mill furnace upgrade contract in UK" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
