Transfer of wipes business in Brazil postponed
On August 31, 2012 we reported that Ahlstrom and Suominen came to an agreement by which Suominen would take over the label and processing business from Ahlstrom to bring into a new company where Ahlstrom would have also a minority shareholding and to transfer Ahlstrom’s wipes business in Brazil to Suominen Corporation
The transfer of Ahlstrom’s wipes business in Brazil was envisioned to be concluded in the third quarter of 2012, but now the parties involved advice, that the necessary Brazilian regulatory permits were not assigned timely and therefore the transfer has to be postponed.
The parties are negotiating the prerequisites, including financing, for completing the entire transactions and are looking into opportunities to move the wipes business through alternative interim solutions within the scope of the current permits accorded. The aim is to transfer the operations in Brazil to Suominen as soon as possible.
On the other hand the Home and Personal business, excluding the Brazilian part of the operation has been transferred to Suominen Corporation already on October 31, 2011.