Home / Knowledge / News / Textiles / Ahlstrom expands restructuring program to €50mn
Ahlstrom expands restructuring program to €50mn
30
Jan '14
Ahlstrom, a global high performance fiber-based materials company, expands its rightsizing program from the previously communicated EUR 35 million to EUR 50 million.

The majority of the planned actions related to the rightsizing program will be realized by the end of 2014, and the full impact of the program is expected to be visible in 2015.

As a result of the planned program, Ahlstrom's personnel is estimated to be reduced by approximately 400 people globally at the maximum, instead of the earlier estimated 350 people as communicated with the previous cost savings target on August 7, 2013.

"Improving our financial performance is our highest priority this year. The earlier announced program is proceeding as planned, but to deliver the targeted profitability improvement, we need to further reduce our costs now that the major transactions relating to our specialty paper and wipes businesses have been completed, " said Jan Lång, President & CEO.

"In addition to streamlining our costs, we are determined to improve our margins through driving new growth with our current businesses, supported by our enhanced product offering and increased share of new products in our sales mix," continued Lång.

The targeted savings will be derived from all business areas and functions globally. In particular, the aim is to reduce selling, general and administration (SGA) costs and further improve supply chain efficiency. The aim is to bring the SGA costs back to a level of 10-11% of net sales in 2015.

The planned changes and personnel impacts are subject to employee consultation processes, which will be initiated according to local legislation in the countries affected.

Ahlstrom plans to book non-recurring costs of approximately EUR 15 million related to rightsizing during the years 2014-2015. The company will continue to provide an update on the progress with the rightsizing program in its quarterly financial reporting.

About Ahlstrom

Ahlstrom is a high performance fiber-based 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, medical gowns and drapes, diagnostics, wallcoverings, flooring and food packaging.

Ahlstrom Corporation


Must ReadView All

Courtesy: Nine West

Fashion | On 17th Jun 2018

ABG wins bid in Nine West Holdings auction

Authentic Brands Group (ABG), owner of a global portfolio of...

Courtesy: Kreussler

Textiles | On 17th Jun 2018

USDA certifies Kreussler's solvent as biobased

The US Department of Agriculture (USDA) has certified Kreussler's...

Courtesy: ITUC

Textiles | On 17th Jun 2018

Democratic space shrink & corporate greed are rising: ITUC

Shrinking democratic space for working people and unchecked corporate ...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search