Ahlstrom to acquire Fabriano Filter Media SpA of Italy
Ahlstrom Corporation STOCK EXCHANGE RELEASE 2.2.2007 at 8.00
Ahlstrom Corporation, a leader in high performance fiber-based materials, announced today that it has signed an agreement to acquire Fabriano Filter Media SpA, based in Sassoferrato, in central Italy. Fabriano is a manufacturer of microglass filter media, serving mainly the high efficiency air filtration market. The transaction price is approximately EUR 7 million.
The transaction complements Ahlstrom's air filtration portfolio, increasing the medium efficiency product offering and giving the company access to the growing markets for high efficiency products. With the addition of Fabriano's filter media business, Ahlstrom reinforces its position as a leading provider of filtration solutions to the global air filtration industry. The transaction includes one manufacturing plant with net sales of approximately EUR 7 million. The plant employs 32 people. The acquired business will be closely integrated with Ahlstrom's current Italian operations in Turin. The transaction is expected to be closed at the beginning of Q2/2007.
Commenting on the transaction, Ahlstrom's President & CEO Jukka Moisio said: "This deal continues Ahlstrom's path to develop our global filtration business with an important technology that we have been lacking. Our strong presence in Italy will support the integration of the acquired business."
"The addition of microglass filter media capability perfectly complements Ahlstrom's current technology portfolio in filtration," commented Daniele Borlatto, Vice President, Filtration Europe. "We have been seeking to develop and complete a comprehensive product offering including all efficiency levels and this acquisition offers us a good platform to grow the high efficiency business."
The market for microglass filter media is estimated to grow at a rate of 5% annually.
Ahlstrom's Filtration business area is the leading manufacturer of filtration materials with 12 production sites across four continents.
For further information, please contact:
Jukka Moisio, President & CEO, + 358 (0)10 888 4700, jukka.moisio@ahlstrom.com
Daniele Borlatto, Vice President, Filtration, Europe, +39 011 926 0241, daniele.borlatto@ahlstrom.com
Ahlstrom in brief
Ahlstrom is a global leader in the development, manufacture and marketing of high performance fiber-based materials. Nonwovens and specialty papers, made by Ahlstrom, are used in a large variety of everyday products, e.g. in filters, wipes, flooring, labels, and tapes. The company has a strong market position in several business areas in which it operates, built upon the company's unique fiber expertise and innovative approach. Ahlstrom's 5,700 employees serve customers via sales offices and production facilities in more than 20 countries on six continents. In 2006, Ahlstrom's net sales amounted to EUR 1.6 billion. Ahlstrom's share is listed on the Helsinki Stock Exchange. The company website is www.ahlstrom.com.