Ahlstrom Corporation STOCK EXCHANGE RELEASE October 9, 2014 at 8.30
Ahlstrom to withdraw from Porous Power Technologies
Ahlstrom, a high performance fiber-based materials company, has decided not to make any further investments in Porous Power Technologies, LLC. The U.S.-based subsidiary has not been able to develop its nonwoven battery separator solution into a product that would be qualified by potential customers.
As a consequence, the Board Members of Porous Power Technologies have decided to wind down operations in an orderly manner. Ahlstrom will book net of tax an impairment loss of approximately EUR 8 million in its third-quarter 2014 financial results. The impairment will not have any material cash effect.
Ahlstrom acquired a 49.5% stake in Porous Power Technologies in 2011 and now holds approximately 60% of the shares in the company.
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Ahlstrom in brief
Ahlstrom is a high performance fiber-based materials company, partnering with leading businesses around the world to help them stay ahead. We aim to grow with a product offering for clean and healthy environment. Our materials are used in everyday applications such as filters, medical fabrics, life science and diagnostics, wallcoverings and food packaging. In 2013, Ahlstrom's net sales from the continuing operations amounted to EUR 1 billion. Our 3,500 employees serve customers in 24 countries. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. More information available at www.ahlstrom.com.