Ahlstrom Corporation STOCK EXCHANGE RELEASE 24.8.2011 at 10.20
Ahlstrom Corporation, a global high performance materials company, will start on September 1, 2011, co-operation negotiations with employee representatives at its Karhula and Mikkeli plants in Finland. The negotiations concern all personnel at the sites, with the aim of improving profitability of the units.
Ahlstrom manufactures glassfiber, specialty reinforcements and glassfiber tissue in Karhula and Mikkeli. Previous efficiency improvement measures implemented at the sites have not been sufficient. Profitability has weakened as competition, particularly in glassfiber markets and specialty reinforcements used by the wind energy industry, has intensified significantly. In addition, the company has not been able to fully compensate for the increased raw material and energy costs by higher selling prices.
The plants in Karhula and Mikkeli are part of Ahlstrom's Building and Energy Business Area. The Karhula plant employs 267 permanent employees, of whom 190 are blue-collar and 77 white-collar. The Mikkeli plant employs 135 permanent employees, of whom 97 are blue-collar and 38 white-collar. In case the negotiations lead to personnel reductions, Ahlstrom estimates a maximum of 230 persons to be impacted. Temporary layoffs are also discussed in the negotiations.
For more information, please contact:
Managing Director, Ahlstrom Glassfibre Oy
Tel. +358 10 888 2606
Vice President, Communications, Ahlstrom Corporation
Tel. +358 10 888 4757
Ahlstrom in brief
Ahlstrom is a high performance materials company, partnering with leading businesses around the world to help them stay ahead. Our products are used in a large variety of everyday applications, such as filters, wallcovers, wipes, flooring, labels and food packaging. We have a leading market position in the businesses in which we operate. Our 5,700 employees serve customers in 26 countries on six continents. In 2010, Ahlstrom's net sales amounted to EUR 1.9 billion. The company's share is quoted on the NASDAQ OMX Helsinki. More information is available at www.ahlstrom.com.
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Source: Ahlstrom Oyj via Thomson Reuters ONE