Ahlstrom sells its shareholding in core and coreboard manufacturer Sonoco-Alcore
Ahlstrom Corporation STOCK EXCHANGE RELEASE 24.7.2006 at 15.00
Ahlstrom, a global leader in high performance fiber-based materials, sells its 35.5 per cent shareholding in the Sonoco-Alcore joint venture to Sonoco for EUR 39.5 million. Ahlstrom will book a capital gain of approximately EUR 3 million from the sale in the third quarter 2006.
The transaction supports Ahlstrom's strategy to focus on fiber-based materials and to divest non-core assets. Including this transaction, Ahlstrom has to date sold non-core assets amounting to EUR 44 million in 2006.
Sonoco-Alcore produces coreboard and cores and tubes for industrial use. Today, the joint venture consists of 28 tube and core plants and 6 paper mills. Total net sales for the joint venture in 2005 were approximately EUR 270 million.
In Finland, Sonoco-Alcore operates five plants: three in Karhula, one in Ruukki and one in Anjalankoski. These plants employ altogether 200 employees.
Sonoco-Alcore was established in 2004. Prior to the transaction signed today, Sonoco owns 64.5 per cent of the joint venture and Ahlstrom 35.5 per cent.
The closing of the transaction is subject to the approval of certain local competition authorities.
For further information, please contact:
Jukka Moisio, President and CEO, Ahlstrom Corporation, tel. + 358 10 888 4700
Helsinki Stock Exchange
Ahlstrom in brief
Ahlstrom is a global leader in the development, manufacture and marketing of high performance fiber-based materials. Nonwovens and specialty papers, made by Ahlstrom, are used in a large variety of everyday products, e.g. in filters, wipes, flooring, labels, and tapes. The company has a strong market position in several business areas in which it operates, built upon the company's unique fiber expertise and innovative approach. Ahlstrom's 5,600 employees serve customers via sales offices and production facilities in more than 20 countries on six continents. In 2005, Ahlstrom's net sales amounted to EUR 1.55 billion. Ahlstrom's share is listed on the main list of the Helsinki Stock Exchange. The company website is www.ahlstrom.com.