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Ahlstrom to close down two nonwovens production lines in Italy
06 Jul '09
1 min read
Ahlstrom has concluded its co-operation negotiations with the representatives of the personnel regarding the restructuring of Home & Personal Nonwovens business area (Fiber Composites segment) in Italy. The Gallarate plant will be closed as well as one production line in Cressa due to low market demand and weak long-term profitability.
Contrary to the original announcement on January 7, 2009, the Carbonate plant will not be closed. The reduction impact on personnel in all three plants, including also the Carbonate plant, is 48.
Non-recurring expenses related to the closures are EUR 19million, of which EUR 5.2 million have cash flow effect. The non-recurring expenses have been booked in Ahlstrom's fourth quarter 2008 financial results, as announced earlier.
These capacity closures are additional to the EUR 50 million restructuring program announced in April this year.
Contrary to the original announcement on January 7, 2009, the Carbonate plant will not be closed. The reduction impact on personnel in all three plants, including also the Carbonate plant, is 48.
Non-recurring expenses related to the closures are EUR 19million, of which EUR 5.2 million have cash flow effect. The non-recurring expenses have been booked in Ahlstrom's fourth quarter 2008 financial results, as announced earlier.
These capacity closures are additional to the EUR 50 million restructuring program announced in April this year.
Ahlstrom Corporation
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