Ahlstrom postpones transfer of wipes business in Brazil to Suominen, citing permit delay, affirms intention to complete project as soon as possible
September 27, 2012
– Ahlstrom, a global high performance materials company, announced that the transfer of its wipes business in Brazil to Suominen Corporation will be postponed.
The transfer has been subject to receiving all necessary Brazilian regulatory permits for the operations in addition to competition clearances, which have been received. Ahlstrom had previously anticipated that the transfer would take place in the third quarter of 2012.
Due to the delay in receiving all necessary permits, Ahlstrom and Suominen have now concluded that the transfer cannot be done in the planned time schedule. The parties are negotiating the prerequisites, including financing, for completing the transaction. Ahlstrom and Suominen are together looking into opportunities to move the wipes business in Brazil to Suominen through alternative interim solutions within the scope of the current permits. The aim is to transfer the operations in Brazil to Suominen as soon as possible.
The Home and Personal business area, excluding the Brazilian part of the operation, was transferred on October 31, 2011 to Suominen Corporation.
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, medical gowns and drapes, wallcoverings, flooring, labels and food packaging. We have a leading market position in the businesses in which we operate. Our 5,200 employees serve customers in 28 countries on six continents. In 2011, Ahlstrom's net sales amounted to EUR 1.6 billion. The company's share is quoted on the NASDAQ OMX Helsinki. More information is available at www.ahlstrom.com.