Suominen corporation is gaining a pole position in world nonwoven roll goods for wipes by acquiring the Home and Personal wipes fabrics business from Ahlstrom. By the acquisition Suominen will grow significantly and will become a global market leader in these products.
Two companies announced today that they have signed an agreement of transaction. According to a press release published by Suominen, the value of the transaction is approximately 170 million Euros.
Stock market listed Suominen is already supplying industry and retailers with wet wipes, nonwovens, and flexible packaing for use in consumer products that people use every day – including baby care and personal hygiene. It operates in Finland, the Netherlands, Poland, Sweden, and Russia.
The acquired business has manufacturing plants in Spain, Italy, Brazil and the U.S. The completion of the transaction is subject to approval by competition authorities. Estimated closing of the transaction is by the end of October 2011.
— By expanding geographical coverage and by our strong market position we may respond to our customers’ needs by offering comprehensive sales and product development resources and a more extensive product and service range globally, commented Petri Rolig, President and CEO of Suominen Corporation.