Ahlstrom Acquires Chinese Filter Paper Producer
Aug. 11, 2010 - Ahlstrom said that it has agreed to acquire Shandong Puri Filter & Paper Products Ltd. in China from Purico Group for EUR 22.5 million.
Shandong Puri Filter operates a filter paper plant in Binzhou in the province of Shandong in northeastern China with 170 employees.
"This acquisition is an integral part of our expansion in Asia, as it enables us to serve our global customers based in China and at the same time to build a platform in the country for further growth," said Jan Lang, Ahlstrom's president & CEO.
Together with our plant in Hyun Poong, South Korea, the acquisition enables us to grow our market share in the Asian transportation filtration market", Lang added.
The new plant will be part of Ahlstrom's Filtration Business Area, which accounts for approximately one fifth of the Group's net sales. Ahlstrom currently generates about 10 percent of its annual net sales from Asia.
Ahlstrom expects the deal to close by the end of September after approvals from the authorities.
Shandong Puri Filter & Paper Products Ltd is a speciality filter media company, whose primary products are resin-impregnated filter papers for use in motor vehicle engine oil and air filters, stationary engine intake air filters, industrial filters and other applications