Kari Lehtinen and Markku Simula Appointed as Non-executive Directors at Vexve Armatury Group

• Kari Lehtinen and Markku Simula have been appointed as non-executive directors at Vexve Armatury Group
• Jarmo Nieminen to step down from his board position, but continuing as a significant investor

Starting from November 6, 2020, Mr. Kari Lehtinen and Mr. Markku Simula have been appointed to board of directors of Vexve Armatury Group Oy (“Vexve Armatury Group”, “Vexve”, the “Company”). Jarmo Nieminen will step down from his board position at his own request, but he will continue as a significant investor of the Company.

Mr. Kari Lehtinen is the President and CEO of Oras Group. Mr. Lehtinen has previously worked as the President & CEO of Paroc Group and has an extensive international management background in the building industry.

Mr. Markku Simula is the President of the Aggregates business of Metso Outotec Corporation. Mr. Simula has previously worked as the President of Flow Control business unit of Metso and has a broad understanding of the flow control industry, particularly industrial valves sector.

”Vexve Armatury Group has grown significantly over the last few years and is well positioned to continue the strong development in its core segments, driven by the ongoing energy sector transition globally. I am very pleased that Kari and Markku will join us: their industrial experience will further strengthen the board of Vexve Armatury Group in its next growth phase. Simultaneously I would like to thank Jarmo Nieminen for his time and invaluable insights in supporting the Company – Vexve Armatury Group of today has been built on Jarmo’s vision on the needs of the valves industry. I look forward to continuing our cooperation with Jarmo in his role as an investor of the Company.”‍

‍says Sari Baldauf, Chairman of Vexve Armatury Group.

”After having worked with Vexve basically my entire life, I felt that now is the right time for me to pass the baton. Vexve has always been a growth company and it will most certainly be one in the future as well – I want to thank everyone that I have worked with over the years in helping Vexve to secure its leading position. Now the time is right to complement the board with new experience and knowhow as the Company is taking the next step in consolidating the global valves industry. Vexve will always be part of me and I am excited to continue as a significant investor of the Company on its path to become one of the leading valve companies in Europe.”

‍says Jarmo Nieminen.

Following the changes, the board of Company consists of: Sari Baldauf (Chairman), Otto Kukkonen (Vice Chairman), Lauri Stadigh, Tomio Pihkala, Kalle Reponen, Kari Lehtinen and Markku Simula.

For more information:
Vexve Armatury Group
Vice Chairman Otto Kukkonen
Mobile +358 50 346 3487
Email otto.kukkonen@devco.fi

Vexve Armatury Group in brief
Vexve Armatury Group is the leading European provider of valve solutions for critical conditions, especially for the energy sector. The group is known for its superior product quality, fast delivery times combined with first-class customer service. Vexve Armatury Group delivers its products to over 70 countries and employs around 790 people with factories in Finland, Czech Republic, Germany, and Russia. The group consists of district energy valves solutions provider Vexve Oy, tailored valve solutions provider ARMATURY Group a.s. with a focus especially on gas, power, and metallurgical sectors and ZMK, Germany-based industry-leading designer and supplier of highly specialized valves for the petrochemical industry with a focus on ethylene production. The combined turnover of the Vexve Armatury Group is over €120m.

DevCo Partners in brief
DevCo is a long-term oriented active owner and development partner dedicated to building world-leading companies in selected niche markets. DevCo provides its companies with hands-on operational resources, strategic support and significant financial resources to support step changes in their performance. DevCo is currently the majority owner of two global niche leaders, Vexve Armatury Group and Medix Biochemica.