Ahlstrom sells its vegetable parchment converting assets
Finnish Ahlstrom, a global high performance fibre based materials company, signed an agreement to sell the converting operations of its West Carrollton plant in Ohio (USA), to West Carrollton Parchment and Converting Inc, an Ohio based family owned company
Under the agreement, Ahlstrom sells its vegetable parchment converting assets and related order book to West Carrollton Parchment and Converting. The value of the agreement will not be disclosed. The transaction is expected to be complete by the end of 2013. The workforce of around 70 employees at the plant will transfer to the new owner. Ahlstrom will charge a non-recurring cost of EUR 1.43 million related to the transaction in the fourth quarter 0f 2013.
As part of the sale, Ahlstrom and West Carrolton Parchment and Converting will establish a long term supply agreement for vegetable parchment paper, primarily used in food packaging.
Ahlstrom’s Food and Medical business area will continue to operate nine production plants in France, GB, USA, India, China and Finland.