On 20 October 2011, Suominen Corporation and Ahlstrom Corporation agreed on the finalization of the acquisition of the Home and Personal business area. The Home and Personal business was transferred to Suominen on 31 October 2011. The value of the transaction is approximately EUR 170 million.
The acquired business will be incorporated in the Nonwovens business unit of Suominen. Jean-Marie Becker (54), M.Sc (Tech.), has been appointed Executive Vice President and General Manager of the Nonwovens business unit and a member of the Corporate Executive Team as of 1 November 2011. Previously, Mr. Becker has acted as Executive Vice President of Ahlstrom’s Home and Personal business area.
Arto Kiiskinen, Vice President and CFO of Suominen Corporation; Erik van Deursen, General Manager of Suominen Codi Wipes and Mikko Pellinen, Vice President and General Manager of Suominen Flexibles will continue to be members of the Corporate Executive Team. All the mentioned will report to Petri Rolig, President and CEO of Suominen Corporation.
Helsinki, 1 November 2011
Board of Directors
For additional information please contact:
Mr. Petri Rolig, President and CEO, tel. +358 (0)10 214 300
Mr. Arto Kiiskinen, Vice President and CFO, tel. +358 (0)10 214 300Suominen produces high-quality flexible packaging, wet wipes and nonwovens for industry and the retail sector. By the acquisition Suominen will grow significantly and become a global market leader within nonwoven roll goods for wipes operating in ten countries on two continents. The Group had net sales of EUR 173 million in 2010 and it employs around 900 people. Suominen is listed on NASDAQ OMX Helsinki. www.suominen.fi