Ahlstrom has agreed to sell its building & wind business unit to Owens Corning for €73 million.
The building & wind business unit produces glass fiber tissue used mainly in flooring applications as well as reinforcements used in windmill blades. In 2014 the net sales of the business was approximately €77 million and the business was profitable. The unit operates two plants in Finland in Karhula and Mikkeli and one in Tver, Russia, employing in total approximately 260 persons. It serves markets mainly in Europe and Russia as well as in North America and Asia. ‘This transaction will strengthen our balance sheet and enables us to develop other businesses more efficiently and pursue growth in areas aligned to our strategy,’ said Marco Levi, President & CEO of Ahlstrom. ‘We are happy to have identified Owens Corning as the buyer as it is vertically integrated and has ample resources to develop the glass fiber business further. We also believe this is a good solution for the unit's employees transferring to the new owner.’
This story uses material from Ahlstrom, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
