Each issue of PaperMoney is approximately 500 fact filled pages.
Logout
Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
Search
My Profile
Login
Management Side
Ahlstrom Signs Agreements with Zhejiang Kan Specialty Material Co (KAN Paper)
Print
Helsinki, Finland, 21 September 2007 -- Ahlstrom, a global leader in fiber-based materials, today announced that it has signed agreements with Zhejiang Kan Specialty Material Co (KAN Paper) and its management to acquire a majority shareholding in a specialty papers joint venture in China, as announced 10 September 2007.

In accordance with the agreements, Ahlstrom will hold 70% of the shares in the joint venture. The debt-free value of the acquisition is expected to be approximately EUR 10 million.

The assets in the joint venture currently comprise a paper machine, water treatment, and 15 hectares of land in Kaifeng, China. The annual production capacity of the joint venture is approximately 12,000 tons; it employs 130 people.

The joint venture will be part of Ahlstrom's Technical Papers business area, is mainly aimed to serve the local crepe paper markets, and serves as a platform for Ahlstrom's further growth in China. The market for crepe papers in China is estimated to grow approximately 15% annually.

The deal is expected to be closed during the fourth quarter of 2007. The completion of the transaction is subject to regulatory approvals and satisfactory conclusion of the due diligence process. The final transaction price will be confirmed in connection with the due diligence process. Ahlstrom will purchase the remaining share in the joint venture after two years.

Ahlstrom has one manufacturing site in China producing dust filtration materials. It also has three sales offices in China.

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, such as filters, wipes, flooring, labels, and tapes. Ahlstrom's 6200 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.
 

Related Articles:


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: