Suominen Has Completed The Divestment Of Its Wet Wipes Business
HELSINKI, Finland — July 15, 2013 — Suominen Corporation has completed the divestment of its wet
wipes business unit, Codi Wipes, announced on 17 June 2013. Both parties of the deal have now
fulfilled the conditions precedent and the transaction has been closed. Codi Wipes business unit
will be excluded from Suominen's financial reporting as of today. Previously, Codi Wipes has been
reported as part of Suominen's Wiping segment.
As stated in the previous announcement, Suominen will recognize due to the divestment, in accordance with the IFRS 5 standard, a loss of MEUR 16.8 in the second quarter result of 2013 of its discontinued operations.
The divestment further strengthens Suominen's strategic focus on nonwovens and clarifies its position in wipes value chain.
Posted July 16, 2013
Source: Suominen Corp.