Ahlstrom to Divide Nonwovens Business Unit
June 24, 2008 - Ahlstrom Corp. today said that it will split its current Nonwovens Business Area into two parts—Home & Personal Nonwovens, covering mainly the former Wipes product line, and Advanced Nonwovens, incorporating the Food, Medical and Industrial Nonwovens businesses.
The changes will take effect as of July 1, 2008.
Ahlstrom cited strong growth in its nonwovens business, especially in wiping fabrics, as the primary factor behind the move.
In addition, the split will allow the new Advanced Nonwovens Business Area to free resources and focus on profitable growth in high-value market segments, Ahlstrom said.
Changes will also take place within Ahlstrom's corporate executive team. Jean-Marie Becker will be appointed senior vice president, Home & Personal Nonwovens and member of the corporate executive team. Senior vice president Claudio Ermondi, who has previously led the Nonwovens Business Area, will take the responsibility for the Advanced Nonwovens Business Area and continue as member of the corporate executive team.
Ahlstrom said the reorganization has no effect on its segment reporting, which continues to be reported in two parts: Fiber Composites and Specialty Papers. The two new Business Areas belong to the Fiber Composites segment.
As a result of the reorganization, Ahlstrom will have six Business Areas: Filtration, Advanced Nonwovens, Home & Personal Nonwovens, Glass Nonwovens, Technical Papers, and Release & Label Papers.
SOURCE: Ahlstrom Corp.