Ahlstrom completes divestment of Ascoli plant
June 1 2011 Ahlstrom Corporation has completed the divestment of the buildings, land and assets of its Ascoli plant in Italy.
The transaction was announced on March 18, and the buyer is Eurocomet. 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.Ahlstrom permanently closed the Ascoli plant and ceased the production of one-side coated papers there in early 2008 due to unsatisfactory profitability.The value of the transaction is approximately four million Euros. Ahlstrom will book a non-recurring gain of approximately 2.5 million Euros in its second-quarter financial results.