Suominen's acquisition in Brazil finalized
Helsinki, Finland, 2014-02-10 15:20 CET (GLOBE NEWSWIRE) --
Suominen Corporation Stock Exchange Release 10 February 2014 at 16:20 EET
SUOMINEN’S ACQUISITION IN BRAZIL FINALIZED
Suominen Corporation has today completed the acquisition of Paulínia plant in Brazil from Ahlstrom Corporation. The agreement of the transaction was signed and announced on 10 January 2014.
The Paulínia plant will be included in Suominen’s Nonwovens reporting segment as of 1 February 2014.
The closing of the deal provides Suominen a foothold in the growing South American markets and further strengthens its position as the global leader in the nonwovens for wipes. Suominen is now the only manufacturer of nonwovens for wipes with plants in Europe, North America and South America. The Paulínia plant was built in 2008 and it employs approximately 40 persons. The net sales of the plant were approximately EUR 20 million in 2013.
Nina Kopola, President & CEO
For additional information, please contact Nina Kopola, President & CEO, tel. +358 (0)10 214 300
Suominen in brief
Suominen supplies its industrial and retail customers with nonwovens and flexible packaging for use in consumer products worldwide. Suominen is the global market leader in nonwovens for wipes. The company employs more than 1,000 people in Europe and in the United States. Suominen’s net sales in 2013 amounted to MEUR 433.1 and operating profit excluding non-recurring items was MEUR 18.3 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.
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