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4-Traders Homepage  >  Equities  >  Xetra  >  Ahlstrom Corporation    A7Q1   FI0009010391

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Ahlstrom Corporation : to sell its West Carrollton plant to West Carrollton Parchment and Converting

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11/22/2013 | 08:35am CEST

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.

For more information, please contact:
Liisa Nyyssönen
Vice President, Communications
Tel. +358 10 888 4757

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:

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Ahlstrom Oyj via Thomson Reuters ONE

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Financials (€)
Sales 2016 1 044 M
EBIT 2016 59,8 M
Net income 2016 26,0 M
Debt 2016 203 M
Yield 2016 3,37%
P/E ratio 2016 18,52
P/E ratio 2017 12,00
EV / Sales 2016 0,63x
EV / Sales 2017 0,60x
Capitalization 449 M
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 9,30 €
Spread / Average Target -3,4%
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Marco Levi President & Chief Executive Officer
Hans M. Sohlström Chairman
Roberto Boggio Executive VP-Operations, Food & Medical
Sakari Ahdekivi Chief Financial Officer & IR Contact
Jari Koikkalainen Executive VP-Procurement & Group Technology
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