Ahlstrom sells Groesbeck filtration business unit
The value of the transaction is approximately 4.5 million Euros. This amount may increase by up to 1.5 million Euros, if certain conditions and targets are met in the future. Ahlstrom will book a non-recurring loss of approximately 18 million Euros related to the divestment in its fourth-quarter financial results.The Groesbeck operation, which employs about 100 people, makes air filtration media for the heating, ventilating and air conditioning (HVAC) industry. The unit has been part of Ahlstrom's Filtration Business Area's Dust Filtration unit. Ahlstrom has concluded that dust filtration materials do not fit strategically to its product portfolio.The transaction will be effective immediately. This divestment, together with earlier announced Wuxi and Bethune divestments, complete Ahlstrom's exit from dust filtration businesses.