Ahlstrom Corporation, a global leader in nonwovens and specialty papers, has today signed an agreement to exit its Sealing & Shielding business unit through the sale of Ahlstrom Altenkirchen GmbH in Germany. The acquirer is Interface Solutions, a portfolio company of Pennsylvania-based family owned private equity fund Susquehanna Capital.
The value of the transaction is approximately EUR 6.5 million.
Ahlstrom Altenkirchen GmbH, which is part of Ahlstrom's Label and Processing Business Area, is located in the German state of Rheinland-Pfalz. The plant has two paper machines and employs approximately 130 people. Its products include gasket and heat shield materials for the automotive industry and calender bowl materials for the paper industry.
Products manufactured by the Altenkirchen site differ technically from the other nonwoven and specialty paper products made by Ahlstrom and therefore do not fit strategically with the company's portfolio. Interface Solutions is a global leader in gasket materials for the automotive industry.
It is anticipated that the transaction will be completed by the end of 2010. Ahlstrom will book a non-recurring gain of approximately EUR 5 million from the transaction in its fourth-quarter financial results. The completion of the transaction is subject to customary closing conditions.
Ahlstrom's Label and Processing Business Area will continue to operate six production sites in France, Germany, Italy and Brazil.
For further information, please contact:
President and CEO
Tel. +358 10 888 4700
Executive Vice President, Label and Processing
Tel. +33 4 7645 3515
Tel. +358 10 888 4768