Ahlstrom-Munksjö to divest its glass fiber reinforcement business
HELSINKI, November 21, 2019-
Ahlstrom-Munksjö has agreed to sell 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 EUR 30 million and the divestment will not have a material impact on Group’s comparable EBITDA. The debt free purchase price is EUR 6.5 million. The transaction is expected to be completed during the fourth quarter of 2019 and is subject to customary closing terms. The Mikkeli plant is part of Ahlstrom-Munksjö’s Filtration and Performance business area.
Not a subscriber?