Ahlstrom Corporation today announced the sale of the share capital of Ahlstrom Kauttua Oy to Jujo Thermal Ltd, also located in Kauttua, Finland. The transaction supports Jujo Thermal's strategy to expand its operations as one of the world's leading producers of direct thermal papers. The change of ownership affects 145 employees of Ahlstrom Kauttua Oy. The parties have agreed not to disclose the transaction value.
Earlier this year, Jujo Thermal announced an investment in a new coating machine that will increase the company's annual production capacity of thermal papers by 30 000 tons. The acquisition secures Jujo Thermal's future base paper needs, which are expected to grow significantly in the long term.
According to the agreement, the Kauttua plant will continue to produce Ahlstrom's face stock and wet glue label papers and it will gradually reduce the tonnage as Jujo's base paper production increases. During the transition period, the production of label papers will be transferred to other plants in Europe within Ahlstrom. As a result, Ahlstrom is better positioned to meet the growing needs of the face stock and wet glue paper markets. Ahlstrom is one of the world's leading manufacturers of face stock and wet glue label papers.
The agreed transaction does not include Ahlstrom Kauttua's paper machine PM 4, which will continue to be owned and operated by Ahlstrom for the manufacturing of high performance crepe papers, primarily base papers for masking tape applications.
Jujo Thermal is a Finnish-Japanese joint venture owned by Ahlstrom Corporation, Nippon Paper Industries Co., Ltd and Mitsui & Co, Ltd. Founded in 1992, Jujo Thermal employs 88 people and its net sales in 2004 amounted to EUR 56 million.
For additional information, please contact:
Mr. Christian Ivars, President & CEO, Jujo Thermal Ltd., tel. +358 (0) 2 8393 2600
tel: + 39 011 9260111 or +39 011 9260193