Ahlstrom to Sell Its West Carrollton Plant to West Carrollton Parchment and Converting

Ahlstrom will sell its vegetable parchment converting assets and related order book to West Carrollton Parchment and Converting.

Nov. 22, 2013 - Ahlstrom has signed an agreement to sell the converting operations of its West Carrollton plant in Ohio, USA, to West Carrollton Parchment and Converting Inc., an Ohio-based family-owned company.

The parties have agreed not to disclose the value of the deal, which is expected to be completed by the end of 2013.

Under the agreement, Ahlstrom will sell its vegetable parchment converting assets and related order book to West Carrollton Parchment and Converting. The approximately 70 employees at the plant will transfer to West Carrollton Parchment and Converting.

Ahlstrom will book a non-recurring cost of EUR 1.3 million related to the transaction in its fourth-quarter 2013 financial results.

As part of the sale, Ahlstrom and West Carrollton Parchment and Converting will establish a long-term supply agreement for vegetable parchment paper, which is primarily used in food packaging.

Ahlstrom's Food and Medical business area will continue to operate 9 production plants in France, United Kingdom, USA, India, China and Finland.

Ahlstrom in March of 2008 acquired Friend Group Inc., which consisted of West Carrollton Parchment Company and West Carrollton Converting Company.

SOURCE: Ahlstrom