Merilampi represented Vexve Oy in its acquisition of Naval Oy from the US-based Flowserve Corporation, whose stocks are listed on the New York Stock Exchange. Naval manufactures ball and control valves, as well as butterfly valves, for use mainly in district heating. Naval’s turnover in 2013 was approximately 30 million euros, and it employs 150 persons.
Vexve Oy is a family-owned Finnish company that specialises in energy saving products and services. Vexve’s turnover in 2013 was approximately 50 million euros, and it employs 160 persons. The President of the Republic of Finland awarded the 2013 Internalisation Award to Vexve Oy.
After this acquisition, the resulting valve family produces more than a million valves per year. The valves are designed and manufactured in Finland. Approximately 90 percent of the products are exported to over 30 countries—the main markets being Russia, China, Scandinavia, Europe and North America. District cooling valves show significant growth prospects, particularly in the Persian Gulf region.