Ahlstrom sells Groesbeck filtration business unit
(Thomson Reuters ONE) -
Ahlstrom Corporation STOCK RELEASE 16.12.2010 at 8.35
Ahlstrom Corporation, a global leader in nonwovens and specialty papers,
announces the sale of its Groesbeck filtration business located in Groesbeck and
Mexia Texas, USA, to Polyester Fibers, a portfolio company of private investment
firm Empire Investment Holdings.
The value of the transaction is approximately EUR 4.5 million. This amount may
increase by up to EUR 1.5 million if certain conditions and targets are met in
the future. Ahlstrom will book a non-recurring loss of approximately EUR 18
million related to the divestment in its fourth-quarter financial results.
The Groesbeck operation, which employs about 100 people, makes air filtration
media for the heating, ventilating and air conditioning (HVAC) industry. The
unit has been part of Ahlstrom's Filtration Business Area's Dust Filtration
unit. Ahlstrom has concluded that dust filtration materials do not fit
strategically to its product portfolio.
The transaction will be effective immediately.
This divestment together with earlier announced Wuxi and Bethune divestments
complete Ahlstrom's exit from dust filtration businesses.
Further information:
Jan Lång
President & CEO
Tel. +358 10 888 4700
Tommi Björnman
Executive Vice President, Filtration
Tel. +39 0119260111
Seppo Parvi
CFO
Tel. +358 10 888 4768
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 atwww.ahlstrom.com.
Polyester Fibers in brief
Polyester Fibers is the largest and most diverse manufacturer and distributor of
value-added, high-loft nonwoven materials for the bedding, furniture,
filtration, craft, industrial, automotive and seasonal markets in the United
States. The company, comprised of 5 business units: Tupelo Fibers, Cameo Fibers,
Mountain Mist, Cumulus Fibres and Buffalo Batt, has more than 550 employees
serving thousands of customers in North America, Asia and Europe. For
additional information please visitwww.poly-fibers.com.
Empire Investment Holdings in brief
Empire Investment Holdings ("Empire") is a private investment firm focused on
the acquisition and strategic management of non-core business units from public
and private corporations. Empire adheres to a well-defined and focused
acquisition strategy that is driven by the firm's history in acquiring,
operating and managing over 50 corporate divestitures across several industries.
Today, Empire's portfolio is comprised of 7 operating companies, serving over
10,000 customers worldwide, with an international footprint of 27 facilities
encompassing over one million square feet of space and over 1,000 employees. For
additional information please visit www.empireih.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
[HUG#1473059]
Unternehmensinformation / Kurzprofil:
Datum: 16.12.2010 - 07:36 Uhr
Sprache: Deutsch
News-ID 49764
Anzahl Zeichen: 4403
contact information:
Town:
Helsinki
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 367 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Ahlstrom sells Groesbeck filtration business unit"
steht unter der journalistisch-redaktionellen Verantwortung von
Ahlstrom Oyj (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
