The divestment would allow the company to develop its other businesses more efficiently and pursue growth in areas aligned to the company's strategy, Ahlstrom explained.
Specialty paper and fiber-based materials manufacturer Ahlstrom will part with its Osnabrück plant in Germany. The company has already signed an agreement with the German specialty paper manufacturer Kämmerer Paper Holding on the sale of the Osnabrück facility and the transaction is reportedly excpected to close in January 2017. Financial details of the deal will not be disclosed.
Osnabrück plant is part of Ahlstrom's Filtration and Performance business division. The mill produces wallpaper base papers, poster papers and release liner. According to Ahlstrom the divestment will reduce the company's annual sales by €80m while the impact on adjusted operating profit will be slightly positive.
Kämmerer Paper is operating two former Ahlstrom paper machines at the Osnabrück site producing a total of 40,000 tpy of pre-impregnated decor papers and abrasive paper backings. Ahlstrom had sold the two paper machines in 2013 in the merger process of its Labels and Processing division with Munksjö.
Sakari Ahdekivi appointed interim President & CEO of Ahlstrom
The Board of Directors of Ahlstrom Corporation has appointed Sakari Ahdekivi as the interim President & CEO with immediate effect. He replaces Marco Levi due to the announced merger plan between Ahlstrom and Munksjö Oyj.
Sakari Ahdekivi would continue as Chief Financial Officer of Ahlstrom and would be a member of the management team of the combined Ahlstrom-Munksjö, the company announced.