Ahlstrom Confirms Acquisition of Friend Group Specialty Paper Company
Helsinki, Finland, 13 February 2008 -- Ahlstrom, a global leader in high performance fiber-based materials, today announced the completion of the acquisition of Friend Group Inc., which consists of West Carrollton Parchment Company and West Carrollton Converting Company. The Group is a producer of vegetable parchment and has parchmentizing and converting operations located in West Carrollton, Ohio, USA.
The parties have agreed not to disclose the acquisition price. Friend Group employs 162 people and has two sites in West Carrollton, serving mainly the food packaging market in the USA. Net sales of the acquired entity in 2007 were USD 47 million.
The new entity is consolidated in Ahlstrom's group financials as of 01 February 2008.
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, such as filters, wipes, flooring, labels, and tapes. Based upon its unique fiber expertise and innovative approach, the company has a strong market position in several business areas in which it operates. Ahlstrom's 6500 employees serve customers via sales offices and production facilities in more than 20 countries on six continents. In 2007, Ahlstrom's net sales amounted to EUR 1.8 billion. Ahlstrom's share is listed on the OMX Nordic Exchange Helsinki. The company website is www.ahlstrom.com.