Ahlstrom to sell closed Italian plant
March 18 2011 Ahlstrom has agreed to sell the buildings, land and assets of its in 2008 closed Ascoli plant in Italy to the company Eurocomet.
The value of the transaction is approximately four million Euros, of which the land and buildings comprise 2.5 million. Ahlstrom will book a non-recurring gain of approximately two million Euros in its second-quarter financial results.Ahlstrom permanently closed the Ascoli plant and ceased the production of one-side coated paper there in early 2008, due to unsatisfactory profitability.Ahlstrom and Eurocomet have agreed that Eurocomet will develop the site for other purposes than paper making, and the machinery will be scrapped. Ahlstrom will keep some of the machinery parts.The transaction is subject to customary closing terms and is expected to be completed during the spring.