Ahlstrom-Munksjö to Change Name to Ahlstrom, Operate Five Divisions

June 16, 2022 - Ahlstrom-Munksjö announced that following the ownership reorganization of its Decor business, estimated to be completed by the end of the third quarter of 2022, Ahlstrom-Munksjö plans to change its business name to Ahlstrom.

In the last five years, Ahlstrom-Munksjö has tripled in size through acquisitions, mergers and organic growth. In early 2021, Ahlstrom-Munksjö launched a number of initiatives to unlock the full potential of the company and build strong capabilities. These initiatives have successfully improved the company's competitiveness and performance, resulting in a strong 2021 with pro forma net sales of EUR 3.1 billion (2020: EUR 2.7 billion) and comparable EBITDA of EUR 398 million (2020: EUR 334 million).

"We are now accelerating the pace of strategy execution to build a stronger company for a sustainable future and capture the significant opportunities both to grow and improve profitability," said President and CEO Hans Sohlström. "Our strategic ambition for 2025 is to become the leader in combining fibers into performance materials that serve our purpose to Purify and Protect, with Every Fiber, for a Sustainable World."

The company will continue to successfully manage a broad portfolio of attractive niche businesses, supported by a tailored operating model. Effective as of July 1, 2022, the Group will serve five growing and distinctive end markets, also forming the basis for five divisions, allowing for significant organic and inorganic growth. The divisions will be supported by global functions and centers of excellence for scale, synergies, and excellence.

The five end-markets and corresponding divisions are:

• Filtration
• Food & Consumer Packaging
• Healthcare
• Building Materials
• Technical Materials

New COO

Furthermore, a new COO function is established to support the decentralized operating model and drive plant performance improvements. Markus Westerkamp, with a background as EVP of Advanced Solutions at Ahlstrom-Munksjö, will take on the role as Chief Operating Officer, effective as of July 1, 2022.

Ahlstrom-Munksjö is a global leader in fiber-based materials offering filter materials, release liners, food and beverage processing materials, decor papers, abrasive and tape backings, electrotechnical paper, glass fiber materials, medical fiber materials, diagnostics and energy storage solutions, as well as a range of specialty papers for industrial and consumer end-uses. To learn more, visit: www.ahlstrom-munksjo.com.

SOURCE: Ahlstrom-Munksjö