Ahlstrom-Munksjö is selling its glass fibre reinforcement business in Mikkeli, Finland, to Vitrulan Composites Oy, a fully owned subsidiary of Vitrulan Group and part of the family-owned industrial holding Adcuram Group. The Mikkeli plant produces glass and carbon-based reinforcement fabrics. The transaction is expected to be completed at the end of 2019.
Ahlstrom-Munksjö’s Mikkeli plant produces glass and carbon-based reinforcement fabrics. Main product offering consists of specialty glass fibre reinforcements for wind energy applications as well as for other end-uses including marine and transportation applications as currently manufactured in Mikkeli.Ahlstrom-Munksjö is selling its glass fibre reinforcement business in Mikkeli, Finland, to Vitrulan Composites Oy, a fully owned subsidiary of Vitrulan Group and part of the family-owned industrial holding Adcuram Group. The Mikkeli plant produces glass and carbon-based reinforcement fabrics. The transaction is expected to be completed at the end of 2019.#
The transaction is expected to be completed during the fourth quarter of 2019 and is subject to customary closing terms. The Mikkeli plant is part of Ahlstrom-Munksjö’s filtration and performance business area.
“We regularly assess what is the most value creating structure for our businesses. Mikkeli’s woven technology and customer base differ from the rest of the group and the plant’s conversion margin is lower. The business provides limited synergies to Ahlstrom-Munksjö’s portfolio. Vitrulan Group is a strategic and industrial player, and a good home for which our technology and skillful personnel is complementary and provide growth opportunities,” says president and CEO Hans Sohlström.
Ahlstrom-Munksjö continues to produce glass fibre tissue at its plants in Karhula, Finland, and Tver, Russia. The company will defend and grow its leadership position in glass fibre tissue, where it has unique technical expertise and close customer relationships. In flooring applications, the company is a global leader and intends to expand its portfolio further.
Ahlstrom-Munksjö’s Mikkeli glass fibre reinforcement business will bring significant growth to Vitrulan Group which produces highly resilient glass fibre-based woven materials. Vitrulan has approximately 400 employees. Its woven materials are used in public and private buildings, reinforcing and backing fabrics, laminates and special products.
“We are excited about expanding our glass fibre reinforcement business and welcome our new colleagues to the Vitrulan family. Together, we will set the course for the next steps,” says Ralf Barthmann, CEO of the Vitrulan Group.
Fibre2Fashion News Desk (SV)
News
Articles
Interviews
Webinars
Events
Advertise with us
About Us
Contact Us
Privacy Policy
Terms & Conditions
Cookie Policy
