Ahlstrom to sell Ascoli plant and assets for EUR 4 million
Ahlstrom Corporation, a global high performance materials company, has today agreed to sell the buildings, land and assets of its Ascoli plant in Italy to Eurocomet.
The value of the transaction is approximately EUR 4.0 million euros, of which the land and buildings comprise EUR 2.5 million. Ahlstrom will book a non-recurring gain of approximately EUR 2.0 million in its second-quarter financial results.
Ahlstrom permanently closed the Ascoli plant and ceased the production of one-side coated papers there in early 2008 due to unsatisfactory profitability. The parties have agreed that Eurocomet will develop the site for other purposes than paper making and the machinery will be scrapped. Ahlstrom will keep some of the machinery parts.
The transaction is subject to customary closing terms and is expected to be completed in the second quarter of 2011.
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, wipes, 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, Ahlstromís net sales amounted to EUR 1.9 billion. The companyís share is quoted on the NASDAQ OMX Helsinki. More information available at www.ahlstrom.com.
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