Ahlstrom says this move is in order to adapt its operations to the challenging market conditions.
Ahlstrom, headquartered in Finland, says that it will review its underperforming units and the overall cost structure and that 400-500 employees may be effected globally. Further details will be announced during 2009.
The cost of the programme is estimated to be approximately €40 million in 2009.
First quarter results
For the first quarter of 2009 Ahlstrom’s reports net sales of €376.1 million, down 19.3% on the first quarter of 2008. In Ahlstrom's Fiber Composites segment, which comprises the Advanced Nonwovens, Filtration, Glass & Industrial Nonwovens and Home & Personal Nonwovens businesses, net sales amounted to €208.8 million in the 2009 first quarter, down 17.1% on 2008, and representing 55% of the Group net sales. The Glass & Industrial Nonwovens business includes the company’s speciality glass fibre reinforcement products for composites applications in the wind energy, building, transportation and marine markets. This unit recorded net sales of €55.5 million in the first quarter of 2009, down 30.8% on the 2008 quarter.
In Ahlstrom's other business segment, Specialty Papers, net sales amounted to €170.1 million for the first quarter of 2009, down 21.6% from the first quarter of 2008.
