Ahlstrom has signed an agreement to divest Stenay plant to Accursia Capital
AHLSTROM OYJ PRESS RELEASE AUGUST 25, 2023 AT 11:00 EEST
Ahlstrom has entered into an agreement to divest its Stenay plant in France to Accursia Capital, following the announcement of Accursia Capital’s binding offer in July. The divestment was confirmed after receiving endorsement from the site’s employee representatives. The transaction is expected to be completed by the end of September.
Accursia Capital aims to develop the Stenay plant in order to guarantee its long-term future and, consequently, secure the jobs of its employees.
"We are delighted to announce this positive outcome for the future of our Stenay plant, its employees and the community of Stenay. This would not have been possible without the role of our team on site and the collaboration of all stakeholders. A new chapter in the plant's history starts now with Accursia Capital,” says Mark Ushpol, EVP, Food and Consumer Packaging division.
"This acquisition is part of a long-term investment strategy aimed at making Stenay a leading player in the highly competitive paper-based packaging market. We therefore look forward to developing the business of the Stenay site in collaboration with the employees," says Martin Scheiblegger, Managing Director of Accursia Capital.
For further information:
Ahlstrom: Katja Ollila, Vice President, Group Marketing and Communications, katja.ollila@ahlstrom.com, +358 44 517 0891
Accursia Capital: Oliver Wuertenberger, Senior Advisor, o.wuertenberger@accursia-capital.de, +49 89 242 1887 700
Ahlstrom in brief
Ahlstrom is a global leader in combining fibers into sustainable specialty materials. Our purpose is to Purify and Protect, with Every Fiber, for a Sustainable World. Our vision is to be the Preferred Sustainable Specialty Materials Company for all our stakeholders. We serve five growing and distinctive end markets, which form the basis for our five divisions: Filtration, Food & Consumer Packaging, Healthcare, Building Materials, and Technical Materials. Our net sales in 2022 for continuing operations amounted to EUR 3.3 billion and we employ some 7,000 people. Read more www.ahlstrom.com
Accursia Capital in brief
Accursia Capital is an investment fund based in Munich that invests in medium-sized industrial companies. The investment focus is on companies with significant operational value creation potential. Typical investments include companies with unresolved succession issues, restructuring and turnaround situations, and complex carve-out projects. Accursia Capital pursues a long-term investment approach and intends to complete its investments on a sustainable basis. For more information, please visit http://www.accursia-capital.com