Ahlstrom to sell Ascoli plant and assets for EUR 4 million

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Source: Ahlstrom Corporation

Ahlstrom Corporation, a global high performance materials company, has today agreed to sell the buildings, land and assets of its Ascoli plant in Italy to Eurocomet.

The value of the transaction is approximately EUR 4.0 million euros, of which the land and buildings comprise EUR 2.5 million. Ahlstrom will book a non-recurring gain of approximately EUR 2.0 million in its second-quarter financial results.

Ahlstrom permanently closed the Ascoli plant and ceased the production of one-side coated papers there in early 2008 due to unsatisfactory profitability. The parties have agreed that Eurocomet will develop the site for other purposes than paper making and the machinery will be scrapped. Ahlstrom will keep some of the machinery parts.

The transaction is subject to customary closing terms and is expected to be completed in the second quarter of 2011.

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