Ahlstrom Corporation STOCK EXCHANGE RELEASE November 22, 2013 at 9.30
Ahlstrom, a global high performance fiber-based materials company, has signed an agreement to sell the converting operations of its West Carrollton plant in Ohio, USA, to West Carrollton Parchment and Converting Inc., an Ohio-based family-owned company. The transaction is expected to be completed by the end of 2013.
Under the agreement, Ahlstrom will sell its vegetable parchment converting assets and related order book to West Carrollton Parchment and Converting. The parties have agreed not to disclose the value of the agreement. The approximately 70 employees at the plant will transfer to West Carrollton Parchment and Converting. Ahlstrom will book a non-recurring cost of EUR 1.3 million related to the transaction in its fourth-quarter 2013 financial results.
As part of the sale, Ahlstrom and West Carrollton Parchment and Converting will establish a long-term supply agreement for vegetable parchment paper, which is primarily used in food packaging.
Ahlstrom's Food and Medical business area will continue to operate 9 production plants in France, United Kingdom, USA, India, China and Finland.
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Ahlstrom in brief
Ahlstrom is a high performance fiber-based materials company, partnering with leading businesses around the world to help them stay ahead. Our products are used in a large variety of everyday applications, such as filters, medical gowns and drapes, diagnostics, wallcoverings, flooring and food packaging. We have a leading market position in the businesses in which we operate. In 2012, Ahlstrom's net sales from the continuing operations (excluding Label and Processing business) amounted to EUR 1 billion. Our 3,800 employees serve customers in 24 countries. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. More information available at www.ahlstrom.com:
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Source: Ahlstrom Oyj via Thomson Reuters ONE