Ahlstrom submits a remedy proposal to the European Commission related to the proposed combination of Label and Processing and Munksjö
Ahlstrom Corporation STOCK EXCHANGE RELEASE March 20, 2013 at 10.00 EET
Not for distribution in or into Australia, Canada, the Hong Kong special administrative region of the People's Republic of China, Japan, New Zealand, South Africa or the United States.
Ahlstrom and Munksjö have filed a remedy proposal to the European Commission related to the proposed combination of the Label and Processing business and Munksjö with respect to abrasive backings and pre-impregnated décor paper businesses.
Under the remedy proposal, Ahlstrom proposes that the abrasive backings and pre-impregrated décor paper lines in Osnabrück, Germany, will be divested to a third party in order to resolve the competition issues identified by the Commission. The potential effect of the proposed remedies on the previously identified synergies will be communicated in due course.
Following the remedy proposal, the EU Commission has extended the review phase related to the transaction until May 16, 2013.
The demerger of Ahlstrom's Label and Processing business in Europe is expected to be completed in the second quarter of 2013. However, as a consequence of the extended review by the EU, Ahlstrom expects to complete the demerger of the company's Label and Processing business in Brazil during the second half of 2013 instead of the previously targeted second quarter of 2013. The company will arrange a new Extraordinary General Meeting for the shareholders later in the year to decide on the demerger process related to the Brazilian business.
The EU commission opened a second phase investigation into the proposed combination in December 2012 with respect to abrasive backings and pre-impregnated décor papers.
For more information, please contact:
Liisa Nyyssönen
Vice President, Communications
Tel. +358 10 888 4757
Ahlstrom in brief
Ahlstrom is a high performance fiber-based 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, medical gowns and drapes, diagnostics, wallcoverings, flooring and food packaging. We have a leading market position in the businesses in which we operate. In 2012, Ahlstrom's net sales from the continuing operations (excluding Label and Processing business) amounted to EUR 1 billion. Our 3,800 employees serve customers in 28 countries on six continents. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. More information available at www.ahlstrom.com.
DisclaimerThis document may not be distributed in or into Australia, Canada, the Hong Kong special administrative region of the People's Republic of China, Japan, New Zealand, South Africa or the United States. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This document is not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Ahlstrom Corporation, Munksjö AB and Munksjö Corporation have not registered, and do not intend to register, any offering of the Munksjö shares in the United States. There will be no public offering of the Munksjö shares in the United States.
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