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Ahlstrom's negotiations to form a JV in China terminated
03 May '08
1 min read
Ahlstrom, a global leader in fiber-based materials, today announced that the negotiations with Zhejiang KAN Specialty Material Co and its management to form a joint venture for the production of specialty paper in China have been terminated.
The agreements were signed in September 2007 and the deal was originally expected to be closed during the fourth quarter of 2007.
The conditions precedent for the closing were not, however, met and the subsequent negotiations did not result in any agreement.
Asia-Pacific continues to be one of the focus areas in Ahlstrom's growth strategy. Ahlstrom has currently manufacturing sites in China and Korea.
In addition, the company is establishing a new medical nonwovens plant in India. Ahlstrom's network of sales offices operates currently in ten Asia-Pacific countries.
The agreements were signed in September 2007 and the deal was originally expected to be closed during the fourth quarter of 2007.
The conditions precedent for the closing were not, however, met and the subsequent negotiations did not result in any agreement.
Asia-Pacific continues to be one of the focus areas in Ahlstrom's growth strategy. Ahlstrom has currently manufacturing sites in China and Korea.
In addition, the company is establishing a new medical nonwovens plant in India. Ahlstrom's network of sales offices operates currently in ten Asia-Pacific countries.
Ahlstrom Corporation
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