Suominen's Acquisition In Brazil Finalized
HELSINKI, Finland — February 10, 2014 — Suominen Corporation has today completed the acquisition of Paulínia plant in Brazil from Ahlstrom Corporation. The agreement of the transaction was signed and announced on 10 January 2014.
The Paulínia plant will be included in Suominen’s Nonwovens reporting segment as of 1 February 2014.
The closing of the deal provides Suominen a foothold in the growing South American markets and further strengthens its position as the global leader in the nonwovens for wipes. Suominen is now the only manufacturer of nonwovens for wipes with plants in Europe, North America and South America. The Paulínia plant was built in 2008 and it employs approximately 40 persons. The net sales of the plant were approximately EUR 20 million in 2013.
Posted February 10, 2014