Ahlstrom Corporation STOCK EXCHANGE RELEASE March 22, 2013 at 18.50 EET
Not for distribution in or into Australia, Canada, the Hong Kong special administrative region of the People's Republic of China, Japan, New Zealand, South Africa or the United States.
As previously announced, Ahlstrom and Munksjö submitted a remedy proposal earlier this week to the European Commission related to the proposed combination of the Label and Processing business and Munksjö with respect to abrasive backings and pre-impregnated décor paper businesses. The EU Commission has now informed the parties that it has extended the review period of the remedy proposal until June 7, 2013.
Ahlstrom has proposed that the abrasive backings and pre-impregnated décor paper businesses, including two production lines in Osnabrück, Germany, will be divested to a third party in order to resolve the competition issues identified by the Commission.
The approval of the demerger plans by Ahlstrom's Extraordinary General Meeting of the Shareholders (in November 2012) will expire on May 27, 2013. Due to the extension of the review period, it is possible that the decision by the EU Commission will not be received before this date.
If the approval of the demerger of Ahlstrom's Label and Processing business in Europe expires due to the revised timetable of the EU, a new EGM will be arranged to decide on the demerger plan of LP Europe. In addition, the same EGM will decide on the demerger plan regarding Brazil (Coated Specialties) as previously announced. In case a new EGM is needed, the completion of the LP Europe demerger will also be postponed to the second half of 2013 like Brazil as previously announced.
The parties remain committed to complete the transaction and work closely with the EU Commission to allow the EU to complete its review as quickly as possible.
For more information, please contact:
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 28 countries on six continents. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. More information available at www.ahlstrom.com.
DisclaimerThis document may not be distributed in or into Australia, Canada, the Hong Kong special administrative region of the People's Republic of China, Japan, New Zealand, South Africa or the United States. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This document is not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Ahlstrom Corporation, Munksjö AB and Munksjö Corporation have not registered, and do not intend to register, any offering of the Munksjö shares in the United States. There will be no public offering of the Munksjö shares in the United States.
This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order or (iv) persons who are members or creditors of the company to which this communication relates, falling within article 43(2) of the Order (all such persons in (i), (ii) (iii) and (iv) above together being referred to as "relevant persons"). Any investment activity to which this document relates will be only available to and will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.