Home / Knowledge / News / Textiles / Ahlstrom to start 2008 with a more competitive cost structure
Ahlstrom to start 2008 with a more competitive cost structure
03
Jan '08
Ahlstrom has during the fourth quarter 2007 taken additional restructuring actions in various parts of the organization reducing altogether 250 positions.

Combined with the previously announced restructuring measures, a total of four sites and nine manufacturing lines will be closed and consequently 650 positions will be lost. The total non-recurring costs, approximately EUR 45 million, are booked in the fourth quarter result of 2007.

The main focus area of the restructuring measures is the European operations of the Specialty Papers segment including the closure of three non-competitive manufacturing lines during the first half of 2008, affecting 450 positions, i.e. the earlier announced plans to close the Ascoli and Chantraine plants and the Turin PM4 release base paper line.

In the FiberComposites segment six manufacturing lines are closed and 200 positions reduced. The non-recurring restructuring costs amount to approximately EUR 45 million of which asset write-offs are EUR 9 million. The restructuring has a positive cash flow due to the release of working capital, and it is targeted to bring profit improvement of EUR 25 million on an annual basis.

"The systematic restructuring actions taken enable Ahlstrom to start the year 2008 with a more competitive cost structure and a leaner organization. The recent acquisitions and the ongoing investment projects in Brazil, Russia, India and China (BRIC countries) will make Ahlstrom well-positioned to succeed and grow in 2008 and beyond", comments President & CEO Jukka Moisio.

Ahlstrom Corporation


Must ReadView All

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

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

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search