As of my last update in April 2023, Valmet Corporation (originally Valtion Metallitehtaat, or "State Metal Factories") has undergone significant changes and no longer exists in its original form. The original Valmet was a large, state-owned Finnish company involved in various industries, including metals, machinery, and defense.
The company has gone through numerous transformations, mergers, and spin-offs over the decades. The most notable changes are:
Merger with Rauma Corporation: In the 1990s, Valmet Corporation merged with Rauma Corporation to form Valmet-Rauma Corporation, which was later renamed Metso.
Metso Split: In 2013, Metso was split into two separate companies: Metso Corporation and Valmet Corporation. The modern Valmet Corporation, a result of this split, focuses on supplying technology and services for the pulp, paper, and energy industries. This version of Valmet is quite different from the original Valtion Metallitehtaat, as it no longer involves defense or farm machinery.
Defence and Other Divisions: The defense-related aspects of the original Valmet, including the production of firearms and military equipment, were divested and became part of other entities. SAKO, for example, became a separate entity focusing on firearms.
As of now, the original Valmet as Valtion Metallitehtaat, with its diverse industrial activities including defense and farm machinery, does not operate. Instead, its legacy continues through various successor companies and divisions, each focusing on different industrial sectors.