Ahlstrom Corporation concludes its profit improvement program with measures affecting a total of 57 people in different locations.
Ahlstrom will eliminate 35 employees at its Jacarei, Brazil plant, part of the Label and Processing business area, due to the weakened market conditions in coated papers in South America. In addition, streamlining measures at other plants affect a total of 22 people.
These measures are the final steps in the profit improvement program, announced October 18, 2011. Under the program, the company announced profit improvement measures impacting a total of 362 employees in various plants worldwide. The program is expected to improve annual operating profit by about €15 million starting from the year 2012. The overall impact of the non-recurring items of the program is cash neutral.
Ahlstrom will book non-recurring costs of about €1.4 million primarily for the measures at Jacarei in its fourth-quarter 2011 financial results.