Ahlstrom Steps up Growth Strategy in Asia by Acquiring Asian Company
11 August 2010
Ahlstrom, a specialist in nonwovens and specialty papers, has begun the acquisition process of the Asian company, Shandong Puri Filter and Paper Products Ltd in China from Purico Group. Both parties have signed the share and sale purchase agreement today and the transaction value is €22.5M.
Shandong Puri Filter and Paper Products Ltd produces transportation filtration media and operates in Binzhou, Northeast China and employs around 170 people.
Jan Lång, Ahlstrom’s President & CEO, said, "This acquisition is an integral part of our expansion in Asia, as it enables us to serve our global customers based in China and at the same time to build a platform in the country for further growth. Together with our plant in Hyun Poong, South Korea, the acquisition enables us to grow our market share in the Asian transportation filtration market."
The acquisition process is expected to be completed by September of this year.