Ahlstrom Terminates Deal for Specialty Papers JV in China
May 2, 2008 - Ahlstrom today said 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.
Ahlstrom and Zhejiang signed agreements for the JV in September 2007 and the deal was originally expected to be closed during the fourth quarter last year.
The conditions precedent for the closing were not, however, met and the subsequent negotiations did not result in any agreement, Ahslstrom said.
Ahlstrom noted that Asia-Pacific continues to be one of its focus areas for growth.