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Ahlstrom to Cut Another 250 Jobs

Jan. 3, 2008 - Ahlstrom said that during the fourth quarter 2007 it has taken further restructuring actions in various parts of the company, eliminating an additional 250 positions. Combined with the previously announced restructuring measures, a total of four sites and nine manufacturing lines will be closed, resulting 650 jopb cuts.

The company said the main focus area of the restructuring program 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—part of its 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, Ahlstrom said.

"The systematic restructuring actions taken enable Ahlstrom to start the year 2008 with a more competitive cost structure and a leaner organization," said Jukka Moisio, Ahlstrom's president and CEO. "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," he added.

SOURCE: Ahlstrom




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