Ahlstrom to buy Fiberweb's consumer wipes business
March 30, 2007 - Ahlstrom today said that it has signed an agreement to acquire the consumer wipes business of Fiberweb plc for approximately EUR 65 million.
The deal includes four plants, two of which are located in Italy, one in Spain and one in the U.S.
In 2006, the net sales of the acquired business totaled EUR 110 million and it employed about 400 people, Ahlstrom said.
The wiping fabrics currently produced by Fiberweb's consumer wipes business are used mainly in personal care, baby care and household wipe applications.
According to Ahlstrom, the market for wiping fabrics is estimated to grow at a rate of 7% annually.
The company expects to close the deal within the second quarter of 2007.