01.02.20
On Dec. 31, Ahlstrom-Munksjö completed the sale of its glass fiber reinforcement business in Mikkeli, Finland, to Vitrulan Composites Oy, a fully owned subsidiary of Vitrulan Group and part of the family-owned industrial holding Adcuram Group.
Ahlstrom-Munksjö’s Mikkeli plant produces glass and carbon based reinforcement fabrics. Main product offering consist of specialty glass fiber reinforcements for wind energy applications as well as for other end-uses including marine and transportation applications as currently manufactured in Mikkeli. At the end of 2018 the plant employed about 100 people. Net sales were approximately €30 million and the divestment will not have a material impact on group’s comparable EBITDA. The debt free purchase price is €6.5 million.
Ahlstrom-Munksjö continues to produce glass fiber tissue at its plants in Karhula, Finland, and Tver, Russia. The company will defend and grow its leadership position in glass fiber tissue, where it has unique technical expertise and close customer relationships. In flooring applications, the company is a global leader and intends to expand its portfolio further.
The transaction was announced on November 21, 2019.
Ahlstrom-Munksjö’s Mikkeli plant produces glass and carbon based reinforcement fabrics. Main product offering consist of specialty glass fiber reinforcements for wind energy applications as well as for other end-uses including marine and transportation applications as currently manufactured in Mikkeli. At the end of 2018 the plant employed about 100 people. Net sales were approximately €30 million and the divestment will not have a material impact on group’s comparable EBITDA. The debt free purchase price is €6.5 million.
Ahlstrom-Munksjö continues to produce glass fiber tissue at its plants in Karhula, Finland, and Tver, Russia. The company will defend and grow its leadership position in glass fiber tissue, where it has unique technical expertise and close customer relationships. In flooring applications, the company is a global leader and intends to expand its portfolio further.
The transaction was announced on November 21, 2019.
