Monday, November 7, 2016 11:15 am

Ahlstrom has signed an agreement to sell its German subsidiary with operations in Osnabrück to Kämmerer Paper Holding GmbH.

The parties have agreed not to disclose the purchase price of the transaction.

Ahlstrom produces base papers for wallcovers, poster papers as well as release liners for self-adhesive labels at the Osnabrück plant, which is part of the Filtration & Performance business area. The sale will reduce Ahlstrom's annual net sales by about EUR 80 million and the impact on adjusted operating profit is slightly positive. The transaction will also include Ahlstrom's 50% stake in AK Energie (a joint venture with Kämmerer), which is the site's utility providing power and water treatment services.

The divestment will allow Ahlstrom to develop its other businesses more efficiently and pursue growth in areas aligned to the company's strategy.

Kämmerer is a specialty paper company operating two production lines at the same site, producing pre-impregnated decor papers and abrasive paper backings. The transaction is expected to be completed in January 2017.

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