Vitrulan Group buys glass fiber reinforcement business from Ahlstrom-Munksjö
The Mikkeli plant produces glass and carbon based reinforcement fabrics. Main product offering consists of specialty glassfiber and carbon reinforcements for wind energy applications as well as for other end-uses including marine and transportation applications. At the end of 2018 the plant employed about 100 people. Net sales were approximately EUR 30 million. The transaction is expected to be completed during the fourth quarter of 2019 and is subject to customary closing terms.
“We are excited about expanding our glass fiber reinforcement business and welcome our new colleagues to the Vitrulan family. Together, we will set the course for the next steps” says Ralf Barthmann as Vitrulans Group CEO.
The portfolio of the Mikkeli Plant provides good synergies to the technical textiles range of the Vitrulan Group. Ahlstrom-Munksjö’s Mikkeli glass fiber reinforcement business will bring significant growth to Vitrulan Group, producing highly resilient glass fiber-based woven materials. Vitrulan has approximately 400 employees and generates net sales of approximately EUR 60 million. Its woven materials are used in public and private buildings, reinforcing and backing fabrics, laminates and special products.
Ahlstrom-Munksjö in brief
Ahlstrom-Munksjö is a global leader in fiber-based materials, supplying innovative and sustainable solutions to its customers. Our mission is to expand the role of fiber-based solutions for sustainable everyday life. Our offering include filter materials, release liners, food and beverage processing materials, decor papers, abrasive and tape backings, electrotechnical paper, glass fiber materials, medical fiber materials and solutions for diagnostics as well as a range of specialty papers for industrial and consumer end-uses. Our annual net sales is about EUR 3 billion and we employ some 8,000 people. The Ahlstrom-Munksjö share is listed on the Nasdaq Helsinki and Stockholm.
Read more at www.ahlstrom-munksjo.com
ADCURAM in brief
ADCURAM is a privately owned industrial group. It acquires companies with potential and develops them further – actively and sustainably. The financially strong industrial holding company has a total of EUR 300 million available for new acquisitions. With its team of 40 experts, the industrial holding company enhances its subsidiaries from a strategic and operational perspective. Together with five subsidiaries and around 2,500 staff, the Group generates global revenues of more than €400 Million.
Read more at www.adcuram.com