Ahlstrom Corporation wil initiate a further restructuring program with the aim of gaining annual cost reductions of €50 million with full effect in 2010. The move will better position the nonwovens producer in light of challenging economic conditions.
The company will review its underperforming units and the overall cost structure, which may impact 400-500 Ahlstrom employees globally. The decisions related to individual actions will be made during 2009 and will be disclosed respectively.
The cost of the program is estimated to be approximately €40 million in 2009, of which 50% will be cash-related.