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Ahlstrom Oyj Receives Statement of Objections from European Commission Related to Proposed Combination of Label and Processing and Munksjo


Friday, 22 Feb 2013 02:45am EST 

Ahlstrom Oyj announced that the Company and Munksjo have on February 22, 2013 received a Statement of Objections from the European Commission. The document addresses the competitive effects of the proposed combination of Ahlstrom's Label and Processing Business and Munksjo with respect to abrasive backings and pre-impregnated decor paper. Ahlstrom and Munksjo are working with the EU Commission in order to resolve the competition issues identified. No final decisions have been taken with regard to potential remedies. The potential effect of any remedies on the previously identified synergies will be communicated in due course. As a consequence of the negotiations with the EU Commission, Ahlstrom expects to complete the demerger of the Company's Label and Processing business in Europe and other related measures forming the first phase of the planned transaction during the second quarter of 2013 instead of the previously targeted first quarter of 2013. The demerger of Ahlstrom's Label and Processing business in Brazil is still expected to be completed in the second quarter of 2013. The EU commission opened a second phase investigation into the proposed combination in December 2012 with respect to abrasive backings and pre-impregnated decor papers. Following the investigation, the Commission will take a final decision on whether the combination would significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it. 

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