Ahlstrom Corporation STOCK EXCHANGE RELEASE 11.11.2010 at 8.40
Ahlstrom, a global leader in nonwovens and specialty papers, has today concluded consultations with employees and customers over the future options for its spunlace composite production line number 23 at the Chirnside plant in the United Kingdom.
As a result of the consultations, which were announced on September 21, 2010, Ahlstrom has decided to close the production line by the end of March 2011. The line is currently underutilized and the level of activity is not sufficient to support its economic viability. It produces nonwovens used in medical and wipes applications as well as for the automotive industry. Ahlstrom aims to serve the customers of the line from the company's other lines.
Approximately 10 employees will leave the company on a voluntary basis as part of the closure. Other personnel affected will be offered alternative employment within the group. Ahlstrom will book a non-recurring cost of EUR 1.8 million in the financial results of the current quarter.
The Chirnside plant employs about 225 people and is part of Ahlstrom's Food and Medical Business Area.
For further information, please contact:
Executive Vice President, Food and Medical
Tel. +1 860 654 8370
Tel. +358 10 888 4768
NASDAQ OMX Helsinki
Ahlstrom in brief
Ahlstrom is a global leader in the development, manufacture and marketing of high performance nonwovens and specialty papers. Ahlstrom´s products are used in a large variety of everyday applications, 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 5,800 employees serve customers via sales offices and production facilities in more than 20 countries on six continents. In 2009, Ahlstrom's net sales amounted to EUR 1.6 billion. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. The company website is at www.ahlstrom.com.