Ahlstrom Corporation STOCK EXCHANGE RELEASE December 5, 2013 at 13.00 EET
Ahlstrom, a global high performance fiber-based materials company, will revise its business area structure by dividing the Food and Medical Business Area into two: Food Business Area and Medical Business Area. The current operating model will remain unchanged. The new organization will become effective as of January 1, 2014.
With this change, Ahlstrom aims to strengthen its focus on the food and medical applications and to address the growth and profitability issues in these businesses.
Ahlstrom's business areas as of January 1, 2014 will be the following:
- Advanced Filtration: A global leader in life science and laboratory filtration materials.
- Building and Energy: One of the leading players globally for materials used in wallcoverings, floorings and windmill blades.
- Food: One of the leading players globally for materials used in food and beverage packaging and masking tape.
- Medical: One of the leading players globally for materials used in medical fabrics.
- Transportation Filtration: The global leader in transportation filtration materials.
In addition to Trading and New Business, these five business areas will form Ahlstrom's new financial reporting segments.
Changes in the Executive Management Team
In conjunction with the change in the business area structure, two appointments have been made.
Omar Hoek, 44, M.Sc. (Bus. Adm.) has been appointed Executive Vice President, Food Business Area, and member of the Executive Management Team. Hoek joined Ahlstrom in 2011 and currently works as Vice President, Marketing, Food and Medical.
Roberto Boggio, 45, M.Sc. (Mech. Eng.) has been appointed Executive Vice President, Medical Business Area, and member of the Executive Management Team. Boggio joined Ahlstrom in 1998 and currently works as Vice President, Supply Chain, for both Advanced Filtration and Transportation Filtration.
Hoek and Boggio will report to Jan Lång, President & CEO.
Seppo Parvi, currently CFO and EVP, Food and Medical Business Area, will leave Ahlstrom during the first quarter of 2014 as announced in September.
The business area structure and appointments will be effective as of January 1, 2014. Ahlstrom plans to publish restated financial segment information for the Food Business Area and Medical Business Area before publishing its January-March 2014 interim report on April 29, 2014.
For more information, please contact:
President & CEO
Tel. +358 10 888 4700
Vice President, Communications
Tel. +358 10 888 4757
Ahlstrom in brief
Ahlstrom is a high performance fiber-based materials company, partnering with leading businesses around the world to help them stay ahead. Our products are used in a large variety of everyday applications, such as filters, medical gowns and drapes, diagnostics, wallcoverings, flooring and food packaging. We have a leading market position in the businesses in which we operate. In 2012, Ahlstrom's net sales from the continuing operations (excluding Label and Processing business) amounted to EUR 1 billion. Our 3,800 employees serve customers in 24 countries. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. More information available at www.ahlstrom.com.