Valmet (Valtion Metallitehdas - state metal factory) was born out of a Finnish World War II munitions factory. In 1949, engineers has produced a prototype 12 horsepower tractor. By 1951, this tractor was in production as the Valmet 15. In 1979, Valmet partnered with Volvo and produced tractors under the Volvo BM Valmet brand. Valmet bought out Volvo in 1985, and entered into an agreement with Massey-Ferguson to produce tractors at Massey's factory in France. Valmet had been a government-owned company until 1993, when it incorporated with Sisu under the name Valtra.