Ahlstrom acquires Shandong Puri Filter & Paper Products Limited in China as part of its growth strategy in Asia
(Thomson Reuters ONE) -
Ahlstrom Corporation STOCK EXCHANGE RELEASE 11.8.2010 at 08.45
Ahlstrom, a global leader in nonwovens and specialty papers, takes a further
step in implementing its growth strategy in Asia through the acquisition of
Shandong Puri Filter & Paper Products Limited in China from Purico Group. The
parties have today signed the share sale and purchase agreement. Value of the
transaction is EUR 22.5 million.
Shandong Puri Filter & Paper Products Limited is a producer of transportation
filtration media and operates a plant in Binzhou in the province of Shandong in
northeastern China. The site currently employs 170 persons.
Jan Lång, Ahlstrom's President & CEO, comments the acquisition:
"This acquisition is an integral part of our expansion in Asia, as it enables us
to serve our global customers based in China and at the same time to build a
platform in the country for further growth. Together with our plant in Hyun
Poong, South Korea, the acquisition enables us to grow our market share in the
Asian transportation filtration market", Jan Lång states.
The new site will be part of Ahlstrom's Filtration Business Area, which accounts
for approximately one fifth of the Group's net sales. Ahlstrom currently
generates about 10 percent of its annual net sales from Asia.
The acquisition is expected to be completed by the end of September and is
subject to necessary approvals from the authorities.
Further information:
Jan Lång
President & CEO
Tel. +358 10 888 4700,jan.lang(at)ahlstrom.com
Tommi Björnman
Executive Vice President, Filtration,
Tel. +39 349 441 1034,tommi.bjornman(at)ahlstrom.com
Seppo Parvi
CFO
Tel. +358 10 888 4768,seppo.parvi(at)ahlstrom.com
Distribution:
NASDAQ OMX Helsinki
Main media
www.ahlstrom.com
Ahlstrom in brief
Ahlstrom is a global leader in the development, manufacture and marketing of
high performance nonwovens and specialty papers. Ahlstrom´s products are used in
a large variety of everyday applications, such as filters, wipes, flooring,
labels, and tapes. Based upon its unique fiber expertise and innovative
approach, the company has a strong market position in several business areas in
which it operates. Ahlstrom's 5,800 employees serve customers via sales offices
and production facilities in more than 20 countries on six continents. In 2009,
Ahlstrom's net sales amounted to EUR 1.6 billion. Ahlstrom's share is quoted on
the NASDAQ OMX Helsinki. The company website is at www.ahlstrom.com.
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Source: Ahlstrom Oyj via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 11.08.2010 - 07:45 Uhr
Sprache: Deutsch
News-ID 39329
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