Ahlstrom concludes profit improvement program
(Thomson Reuters ONE) -
Ahlstrom Corporation PRESS RELEASE December 1, 2011 at 16.00
Ahlstrom Corporation, a global high-performance materials company, concludes its
profit improvement program with measures affecting a total of 57 people in
different locations.
Ahlstrom has decided to reduce 35 employees at its Jacarei plant in Brazil, part
of the Label and Processing business area, due to the weakened market conditions
in coated papers in South America. In addition, streamlining measures at other
plants affect a total of 22 people.
The measures announced today are the final steps in the profit improvement
program, announced on October 18, 2011. Under the program, the company announced
profit improvement measures impacting a total of 362 employees in various plants
worldwide. The program is expected to improve annual operating profit by
approximately EUR 15 million starting from the year 2012. The overall impact of
the non-recurring items of the program is cash neutral.
Ahlstrom will book non-recurring costs of about EUR 1.4 million primarily for
the measures at Jacarei in its fourth-quarter 2011 financial results. For the
entire profit improvement program, the company incurred a non-recurring cost
totaling EUR 33.4 million, of which EUR 25 million was booked in the third-
quarter and EUR 8.4 million will be booked in the fourth-quarter 2011 results.
Ahlstrom will make every effort in supporting employees affected by the change.
For more information, please contact:
Liisa Nyyssönen
Vice President, Communications
Tel. +358 10 888 4757
Ahlstrom in brief
Ahlstrom is a high performance 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, wallcovers, flooring,
labels and food packaging. We have a leading market position in the businesses
in which we operate. Our 5,700 employees serve customers in 26 countries on six
continents. In 2010, Ahlstrom's net sales amounted to EUR 1.9 billion. The
company'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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