During the fourth quarter of 2007, Ahlstrom took additional restructuring actions in various parts of its organization reducing altogether 250 positions, the company has announced. Combined with the previously announced restructuring measures, a total of four sites and nine manufacturing lines will be closed and consequently 650 positions will be lost. The total non-recurring costs, approximately €45 million, are included in the fourth quarter results.
The main focus area of the restructuring measures is the European operations of the Specialty Papers segment including the closure of three non-competitive manufacturing lines during the first half of 2008, affecting 450 positions, that is the earlier announced plans to close the Ascoli and Chantraine plants and the Turin PM4 release base paper line. In the FiberComposites segment six manufacturing lines were closed and 200 positions reduced.
"The systematic restructuring actions taken enable Ahlstrom to start the year 2008 with a more competitive cost structure and a leaner organization. The recent acquisitions and the ongoing investment projects in Brazil, Russia, India and China (BRIC countries) will make Ahlstrom well-positioned to succeed and grow in 2008 and beyond," said president and CEO Jukka Moisio.