Ahlstrom Corporation STOCK EXCHANGE RELEASE 10.5.2010 at 15.00
Ahlstrom Corporation, a leading developer and manufacturer of nonwovens and specialty papers, announces that it will revise its organization and operational model as of July 1, 2010. The changes will be implemented to support the company's recently updated strategy.
Ahlstrom will organize itself in five Business Areas based on Value Added and Operational Excellence business clusters and rolls out global processes in key functions to support this.
The new Business Areas are:
· Building and Energy: covering the current Glass & Industrial Nonwovens business area and wallpaper products
· Label and Processing: including most of the current Technical Papers and Release & Label Papers business areas
· Home and Personal: the current Home & Personal Nonwovens business area
· Food and Medical: the current Advanced Nonwovens business area, crepe papers and vegetable parchment products
· Filtration: the current Filtration business area
In financial reporting, the five Business Areas will form new reporting segments, hence reporting on the current Fiber Composites and Specialty Papers segments will be discontinued. Ahlstrom will provide comparative data on the new segments for the financial year 2009 and for the first two quarters of 2010 by the end of the third quarter this year.
The current product line structure with 18 product lines within the Business Areas will be discontinued, and the organization within the new Business Areas will be integrated to strengthen customer orientation and the supply chain process.
Changes in Executive Management Team
In conjunction with this change, the following changes will be made in Ahlstrom's Executive Management Team.
Patrick Jeambar is appointed Executive Vice President, Label & Processing Business Area. Daniele Borlatto assumes a new role as Vice President, Release & Label business and he reports to Patrick Jeambar. Gustav Adlercreutz is appointed Vice President, Legal Affairs, General Counsel. He reports to CFO Seppo Parvi.
In order to enhance the development of its global supply chain, Ahlstrom will establish a new position of Executive Vice President, Supply Chain. Ahlstrom will announce the appointment for this position in due course.
Ahlstrom's Executive Management Team as of July 1, 2010:
Jan Lång, President & CEO
Risto Anttonen, Deputy of the President & CEO
Paula Aarnio, Executive Vice President, Human Resources & Sustainability
Jean-Marie Becker, Executive Vice President, Home & Personal
Tommi Björnman, Executive Vice President, Filtration
William Casey, Executive Vice President, Food & Medical
Claudio Ermondi, Executive Vice President, Product & Technology Development
Patrick Jeambar, Executive Vice President, Label & Processing
Seppo Parvi, Chief Financial Officer
Laura Raitio, Executive Vice President, Building & Energy
Rami Raulas, Executive Vice President, Sales & Marketing
For further information, please contact:
Jan Lång, President & CEO, tel. +358 10 888 4700
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.