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Ahlstrom-Munksjö to Acquire the Caieiras Specialty Paper mill
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Stockholm, Sweden 24 April 2018 -- Ahlstrom-Munksjö has entered into an agreement to acquire MD Papéis' Caieiras specialty paper mill in Brazil of the Formitex Group, an industrial conglomerate active in the paper, chemicals and panel board industries.

The annual net sales of the business to be acquired are approximately EUR 80 million and comparable EBITDA approximately EUR 13 million in 2017. The debt free purchase price is approximately EUR 100 million. Annual synergy benefits of up to EUR 6 million are estimated, mainly arising from optimization of overlapping business. Banco Citibank S.A. has agreed and committed to provide financing for the acquisition.

The transaction is expected to be completed during the third quarter of 2018 and is subject to customary completion terms, including merger clearance from the relevant competition authorities.

The Caieiras product offering is an excellent match for Ahlstrom-Munksjö with 80% of sales being in line with Ahlstrom-Munksjö's current product and solution portfolio. The acquisition significantly strengthens Ahlstrom-Munksjö's offering and production platform in the region, and provides attractive growth opportunities, synergies and further production optimization opportunities for the longer term. The Caieiras mill is located in the vicinity of Ahlstrom-Munksjö's existing production plants in Jacarei, part of the Industrial Solutions business area, and in Louveira, part of the Filtration and Performance business area. The mill gives access to local production of decor paper, thus strengthening Ahlstrom-Munksjö's service offering and partnership with existing customers, which so far has relied on imports. Ahlstrom-Munksjö becomes a global leading producer in decor paper, and the mill is a competitive platform for further growth in South America. Ahlstrom-Munksjö is already a global leading supplier in tape, serving both local and global customers, and this position is further strengthened through the transaction. And in addition by combining the businesses of Caieiras and Jacarei Ahlstrom-Munksjö improves production and delivery capability as well as competitiveness.

Ahlstrom-Munksjö's presence in Brazil grows further through the acquisition, operating three plants, all near Sao Paolo, and employing over 700 persons and revenues of approximately of EUR 200 million.

"The Caieiras business is an excellent addition to our global platform, and drives our ambition to maintain a leading position in selected niches of the global fiber-based solutions market that offers growth. We have plentiful of opportunities to grow in our existing business segments, proceed with new product development and consider growth in adjacent segments", says Hans Sohlström, President and CEO of Ahlstrom-Munksjö Oyj

"Further expanding our platform in Brazil will allow us to serve our specialty paper customers with an even stronger offering and efficiency", says Daniele Borlatto, EVP of Industrial Solutions Business Area.

"This acquisition strengthens our position as a global leader in Decor papers" says Tomas Wulkan, EVP of the Decor Business Area.

"Formitex Group regards the divestment from the specialty paper business as an opportunity for the group to consolidate its strategic interest in strengthening its chemicals core businesses. Ahlstrom-Munksjö is a great fit as a new parent to the Caieiras Mill, a strategic owner that can expand the mill's technology base - further accelerating its growth potential and strengthening sales internationally", Formitex says in a statement.

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EMPLOYMENT OPPORTUNITIES:

* We are looking for a Production Shift Team Leader to maintain high standards, plus ensure safety policies and regulations for a company located close to Chicago's Midway Airport. If you are experienced team leader who has a four-year degree in an engineering/technical field (paper science degree preferred, and experience in recycled linerboard or corrugating medium paper mills is a plus), we are looking for someone like you! If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* A family owned and operated corrugated packaging solutions company in Illinois is looking for an experienced Maintenance Technician to maintain production and quality by ensuring operation of machinery and mechanical equipment. Relocation and other perks are available to the right candidate who is committed to working third shift. If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* Are you an experienced Maintenance Mechanic and would like to work for a family owned and operated corrugated packaging solutions company that invests in the best equipment and technology? If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

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* An expanding company is looking for a Corporate Industrial Electro-Mechanical Engineer near Allentown, PA. Relocation is available. Do you have a storied list of unique electrical and mechanical engineering skills you're ready to take to the next level? Do you envision yourself in a corporate-level leadership role that your experience finally merits? And do you relish any opportunity to troubleshoot and solve real-time problems, all while designing and installing new services and systems that will not only ensure safety, but also turn a potentially hazardous work environment into a continuously thriving one? If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* An expanding company is looking for hands-on Electro Mechanical Maintenance Techs in Conyers, Georgia. Preference will be given to candidates with higher education and additional certificates or training. You must be able to work any shift. Pay is negotiable with excellent perks and benefits. Relocation assistance is available to the right candidate. If you are interested or would like more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

* Working as a Consultant? Looking for some additional challenges with a flexible scheduling? Have a background in Consistency Control? This may be just the opportunity you are looking for: A large multi-national automation company seeks an expert in paper mill consistency technology. This individual will facilitate application support and start-ups in the paper mill environment. In addition, the ability to provide troubleshooting and technical advice and support is strongly desired. The individual should have an understanding of rotary, blade, microwave and optical consistency and the application of these devices in the paper mill. The company sells and maintains a line of consistency transmitters, sample valves and sheet break detectors. These products are marketed in the US through a rep. network. Knowledge of sheet break detection technology is also desirable. Individual must be willing to travel to paper production facilities across the US. Travel & Living Expenses to be reimbursed along with an agreed upon daily per diem rate. For more information, please contact Jim Thompson at: jthompson@taii.com Ph. 678-206-6010 Cell: 404-822-3412.

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