The geopolitical situation caused by the crisis in Ukraine and the intensified COVID-19 restrictions in China have reduced the orders at Valmet's valve factory in Helsinki, Finland, during spring. The exceptional situation has particularly impacted the factory's oil and gas projects. The impact of the COVID-19 pandemic in China also continues to cause challenges related to component availability and logistics.

To adjust production capacity to match the reduced workload at the valve factory in Helsinki, Valmet is initiating personnel negotiations on potential temporary layoffs on May 25, 2022.

The employees within the scope of the negotiations are those in the Flow Control business line's valve production and related operations in Helsinki, excluding the positioner production unit. The layoffs will be temporary and are estimated to last a maximum of 90 days. The negotiations involve around 340 employees.

Valmet employs about 6,200 people in Finland, about 830 of the employees are in the Flow Control business line.