Ahlstrom has taken a further step in implementing its growth strategy in Asia through the acquisition of Shandong Puri Filter & Paper Products Ltd. in China from the Purico Group. The purchase amount was valued at €22.5 million.
Shandong Puri Filter & Paper Products is a producer of transportation filtration media and operates a plant in Binzhou in the province of Shandong in northeastern China. The site currently employs 170 persons.
"This acquisition is an integral part of our expansion in Asia, as it enables us to serve our global customers based in China and at the same time to build a platform in the country for further growth," said Jan Lång, president and CEO. "Together with our plant in Hyun Poong, South Korea, the acquisition enables us to grow our market share in the Asian transportation filtration market."
The new site will be part of Ahlstrom's Filtration Business Area, which accounts for approximately one-fifth of the group's net sales. Ahlstrom currently generates about 10% of its annual net sales from Asia.