Ahlstrom completes sale of Paulinia plant and creates new Service Centre
Finnish Ahlstrom Corporation, a global high performance fibre based materials company, reports on February 10, 2014, the completion of the sale of the shares of Ahlstrom Fabricação de Não-Tecidos Ltda. to Suominen Corporation
The company operates the Brazilian plant of Ahlstrom’s former Home and Personal business area.
Ahlstrom sold its wipes business, the Home and Personal business area, to Suominen in 2011, but the transfer of the Paulinia plant in Brazil was prolonged due to delays in certain required official permissions and subsequent renegotiations between Suominen and Ahlstrom. The enterprise value of the transaction was EUR 17.5 million.
The new Service Centre in Vilnius, Lithuania will support its businesses in Europe and will mange most of the finance, accounting and customer service operations in EMEA Europe, Middle East and Africa. According to the plan, customer service and financial services will be combined from various locations in Europe. It will bring benefits related to process harmonisation, better management of resources, as well as improved collaboration and efficiency, including cost efficiency to achieve the target cost savings of the company’s rightsizing programme. The customer service functions in Munich (D) will continue to operate as today. Centralising EMEA customer service into two main locations, Vilnius and Munich will enable the company to offer better customer service.
The planned reorganisation is expected to affect approximately 60 jobs in Europe. Ahlstrom will initiate the co-operation negotiations with the employees in all affected locations according to local legislation and practices.
The targeted cost savings from the reorganisation as well as the respective non-recurring items to be booked are included in the EUR 50 million rightsizing programme announced before.