Ahlstrom buys non-wovens business
Ahlstrom Corp., based in Helsinki, Finland, has bought Green Bay Nonwovens, a Wisconsin-based non-wovens manufacturer which primarily serves the growing wipes market with specialty spunlace and resin bond technologies.
Ahlstrom says the transaction strengthens its position in the wipes market and complements its product offering with the addition of specialty spunlace and resin bond technologies to its portfolio. The North American market is expected to continue to demand more of these technologies in the coming years, fuelled by increasing consumer demand.
Green Bay Nonwovens will add about $35 million (EUR 29 million) of sales to Ahlstrom and improve earnings per share (EPS). The acquired business employs 75 people in the Green Bay, WI, facility.
Ahlstrom recently started-up a spunlace composite line at its Windsor Locks, CT plant.
Green Bay Nonwovens will be integrated in Ahlstromís Fiber- Composites division, which is said to be among the worldís largest nonwoven roll good producers. Following the acquisition, the FiberComposites divisionís annual net sales will be about EUR 700 million ($840 million), employing over 3,000 people with manufacturing facilities in North and South America, Europe, and Asia.
As well, Ahlstromís two remaining flexible packaging units were sold: Tecno Jolly (Akerlund & Rausing SpA) was sold to Italian Sacchital SpA; ZAO Akerlund & Rausing Kuban in Russia was sold to Kuban AB, owned by private investment company Ahlstrom Capital Oy. PI