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Ahlstrom to buy Orlandi's spunlace nonwovens business in Italy
02 Feb '07
3 min read
Ahlstrom, a global leader in high performance fiber-based materials announced that it has signed an agreement to acquire the spunlace nonwovens business of the Italian Orlandi Group.
With this acquisition Ahlstrom will become one of the leading producers of nonwoven roll goods for wipes globally. The acquisition price is approximately EUR 60 million and the transaction is expected to be EPS enhancing from 2007.
Ahlstrom anticipates to close the deal within the first half of 2007, subject to antitrust clearances and satisfactory conclusion of the ongoing due diligence. Further, Italian Trade Unions will be informed accordingly.
The acquired business includes two plants with four production lines in Cressa and Gallarate in Northern Italy, close to Milan. The plants employ approximately 120 people.
Orlandi's business expands Ahlstrom's technology portfolio with airlace technology which is used to manufacture pulp-containing wiping fabrics. In connection with the acquisition, Ahlstrom invests approximately EUR 2.5 million to increase both the capacity and technical capabilities of the airlace line at the Cressa plant.
The investment is estimated to be completed by the end of March, 2007. After the investment, the acquired business will generate net sales of approximately EUR 65 million in 2007.
Orlandi is currently one of the leading wiping fabrics producers in Europe, serving the personal, household and industrial wipes markets. In addition, the acquired business manufactures medical and industrial spunlace fabrics.
With this acquisition Ahlstrom will become one of the leading producers of nonwoven roll goods for wipes globally. The acquisition price is approximately EUR 60 million and the transaction is expected to be EPS enhancing from 2007.
Ahlstrom anticipates to close the deal within the first half of 2007, subject to antitrust clearances and satisfactory conclusion of the ongoing due diligence. Further, Italian Trade Unions will be informed accordingly.
The acquired business includes two plants with four production lines in Cressa and Gallarate in Northern Italy, close to Milan. The plants employ approximately 120 people.
Orlandi's business expands Ahlstrom's technology portfolio with airlace technology which is used to manufacture pulp-containing wiping fabrics. In connection with the acquisition, Ahlstrom invests approximately EUR 2.5 million to increase both the capacity and technical capabilities of the airlace line at the Cressa plant.
The investment is estimated to be completed by the end of March, 2007. After the investment, the acquired business will generate net sales of approximately EUR 65 million in 2007.
Orlandi is currently one of the leading wiping fabrics producers in Europe, serving the personal, household and industrial wipes markets. In addition, the acquired business manufactures medical and industrial spunlace fabrics.
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