AstenJohnson announces end of proposed transaction to merge Heimbach and AstenJohnson PMC businesses
September 6, 2019
CHARLESTON, S.C. (News release) -- AstenJohnson has announced the end of the proposed transaction to merge the Heimbach and AstenJohnson PMC businesses.
AstenJohnson CEO Kevin Frank said: "We regret to announce that the proposed transaction to merge the Heimbach and AstenJohnson PMC (Paper Machine Clothing) businesses has been called off. While both companies have a high level of respect for each other and saw great potential to merge, the obstacles simply proved too great to overcome at this time."
AstenJohnson is committed and confident of delivering superior value to all its stakeholders and continues to focus on its growing PMC and Nonwovens business while searching for future strategic growth opportunities.
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