Ahlstrom to close down two nonwovens production lines in Italy
Ahlstrom Corporation STOCK EXCHANGE RELEASE 6.7.2009
Ahlstrom has concluded its co-operation negotiations with the representatives of the personnel regarding the restructuring of Home & Personal Nonwovens business area (Fiber Composites segment) in Italy. The Gallarate plant will be closed as well as one production line in Cressa due to low market demand and weak long-term profitability.
Contrary to the original announcement on January 7, 2009, the Carbonate plant will not be closed. The reduction impact on personnel in all three plants, including also the Carbonate plant, is 48.
Non-recurring expenses related to the closures are EUR 19 million, of which EUR 5.2 million have cash flow effect. The non-recurring expenses have been booked in Ahlstrom's fourth quarter 2008 financial results, as announced earlier.
These capacity closures are additional to the EUR 50 million restructuring program announced in April this year.
President & CEO
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Senior Vice President, Home & Personal Nonwovens
Tel. +33 4 7645 3515
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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, 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 6,100 employees serve customers via sales offices and production facilities in more than 20 countries on six continents. In 2008, Ahlstrom's net sales amounted to EUR 1.8 billion. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. The company website is at www.ahlstrom.com.