Key Developments: Ahlstrom Oyj (AHL1V.HE)
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Latest Key Developments (Source: Significant Developments)
Ahlstrom Oyj to Collaborate with Dow Chemical Co on Water Filtration Applications
Ahlstrom Oyj announced that it has entered into a collaboration agreement with Dow Water & Process Solutions (DW&PS), a business unit of The Dow Chemical Co, to use Ahlstrom's Disruptor technology in drinking water applications. Ahlstrom Disruptor is a nanoalumina technology designed for a wide range of water filtration applications. Ahlstrom's fiber-based materials match the global megatrends, such as environmental awareness, resource scarcity and urbanization. As a response to the need for clean water, Ahlstrom has developed the Disruptor technology that can be used in removing a wide range of tiny contaminants from water. DW&PS will incorporate Ahlstrom's Disruptor filter medium into a new set of drinking water purification products that provide pathogen rejection while operating at high flow and low pressure. Full Article
European Unions Commission Extends Review Phase Related to Proposed Combination of Label and Processing and Munksjo Following Remedy Proposal by Ahlstrom Oyj
Ahlstrom Oyj announced that the Company and Munksjo have filed a remedy proposal to the European Commission related to the proposed combination of the Label and Processing business and Munksjo with respect to abrasive backings and pre-impregnated decor paper businesses. Under the remedy proposal, Ahlstrom proposes that the abrasive backings and pre-impregrated decor paper lines in Osnabruck, Germany, will be divested to a third party in order to resolve the competition issues identified by the Commission. The potential effect of the proposed remedies on the previously identified synergies will be communicated in due course. Following the remedy proposal, the EU Commission has extended the review phase related to the transaction until May 16, 2013. The demerger of Ahlstrom's Label and Processing business in Europe is expected to be completed in the second quarter of 2013. However, as a consequence of the extended review by the EU, Ahlstrom expects to complete the demerger of the company's Label and Processing business in Brazil during the second half of 2013 instead of the previously targeted second quarter of 2013. The Company will arrange a new Extraordinary General Meeting for the shareholders later in the year to decide on the demerger process related to the Brazilian business. 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. Full Article
Ahlstrom Oyj Announces Details on FY 2012 Dividend
Ahlstrom Oyj announced that its Board of Directors will propose to the Annual General Meeting that for the financial year ended on December 31, 2012 a dividend totaling EUR 0.63 per share be paid. The dividends will be paid to shareholders registered in the Register of Shareholders held by Euroclear Finland Ltd. on the record date, April 3, 2013. The proposed dividend payment date is April 10, 2013. Full Article
Ahlstrom Oyj Receives Statement of Objections from European Commission Related to Proposed Combination of Label and Processing and Munksjo
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. Full Article
Ahlstrom Oyj Proposes FY 2012 Dividend of EUR 0.63 per Share
Ahlstrom Oyj announced that the Board of Directors proposes to the Annual General Meeting that a dividend totaling EUR 0.63 per share be paid for the financial year ended on December 31, 2012. Previously, the Annual General Meeting resolved to distribute a dividend totaling EUR 1.30 per share for fiscal year 2011. Full Article
Ahlstrom Oyj Issues FY 2013 Financial Guidance Below Analysts' Estimates
Ahlstrom Oyj announced that it expects net sales from continuing operations to be between EUR 980 million and EUR 1,140 million in the fiscal year (FY) 2013. The operating profit margin excluding non-recurring items from continuing operations is expected to be between 2% and 5% of net sales in FY 2013. According to I/B/E/S Estimates, analysts on average are expecting the Company to report FY 2013 net sales of EUR 1,238.79 million. Full Article
Ahlstrom Oyj Restates Historical Financial Figures Excluding Label and Processing
Ahlstrom Oyj announced that it has published historical restated financial figures for continuing operations for 2011 and January-September 2012. On November 27, 2012, the Extraordinary General Meeting of the Company approved the demerger of the Label and Processing (LP) business in Europe and the Coated Specialties business in Brazil. Consequently, the business is classified as an asset held for distribution to owners and reported separately as discontinued operations. The 2011 and 2012 continuing operations are presented excluding both LP and Home and Personal (HP) businesses. The majority of the HP business was divested to Suominen Oyj in 2011. Continuing operations are presented in a manner that represents the business and operational organization as well as the revenue and cost structure of the Company following the planned transaction with Munksjo (demergers of LP Europe and Coated Specialties). The cost structure between continuing and discontinuing operations has been adjusted with costs that will remain with Ahlstrom after the demergers, but have historically been allocated to the LP Europe and Coated Specialties businesses. The presented figures are unaudited. The historical figures differ to some extent from the pro forma figures published on November 19, 2012. The pro forma figures included certain pro forma adjustments that will only be materialized at the time or after the closing of the transaction, affecting also certain changes in intercompany eliminations. Full Article
Ahlstrom Oyj Completes Release Paper Range for PSA Graphics
Ahlstrom Oyj announced that it has completed its range of Silco Flat release papers for Pressure Sensitive Adhesive (PSA) graphics, with the addition of newly developed products for the demanding graphics applications and for plotter cut films. Large format self-adhesive graphics are applied on large surfaces to create appealing decoration or advertising in architecture, retail, vehicles or exhibitions. Release liners used for such laminates need to be specially designed to perform well during lamination, printing or plotter cutting. Made of natural fibers, release papers are the most sustainable release liner substrates. Based on renewable raw materials, they are derived from responsible forestry, are recyclable and biodegradable. Full Article
Ahlstrom Oyj Lowers FY 2012 Guidance
Ahlstrom Oyj announced that it has decided to adjust its outlook to reflect the resolution by the Extraordinary General Meeting (EGM) to approve the demerger of the Label and Processing business area. Ahlstrom now expects net sales (revenue) from continuing operations to be between EUR 960 million and EUR 1,040 million, and operating profit excluding non-recurring items from continuing operations to be between EUR 22 million and EUR 32 million in the fiscal year 2012. Ahlstrom had previously estimated, including the Label and Processing business area, net sales to be between EUR 1,550 million and EUR 1,630 million, and operating profit excluding non-recurring items to be between EUR 48 million and EUR 58 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of EUR 1,595.94 million and EBIT of EUR 47.76 million for the fiscal year 2012. Full Article
Ahlstrom Oyj Announces Further Details on Demerger of Label and Processing Business
Ahlstrom Oyj announced that its Extraordinary General Meeting (EGM) on November 27, 2012 resolved to approve the demerger concerning the Ahlstrom Group's Label and Processing business in Europe (LP Europe Demerger). Upon the execution of the demerger in Europe, the shareholders of Ahlstrom Corporation will receive as demerger consideration 0.25 new shares in Munksjo Oyj for each share owned in Ahlstrom Corporation (i.e. the exchange ratio is 4:1). No demerger consideration will be paid on the basis of own shares held by Ahlstrom Corporation. The EGM also resolved to approve the demerger concerning the Ahlstrom Group's Label and Processing business in Brazil (Coated Specialties Demerger). Upon execution of the demerger concerning the Label and Processing business in Brazil, the shareholders of Ahlstrom Corporation will receive as demerger consideration 0.265 new shares in Munksjo Oyj for each share owned in Ahlstrom Corporation. No demerger consideration will be paid on the basis of own shares held by Ahlstrom Corporation. Full Article
EU regulators to approve Ahlstrom, Munksjo deal: source
BRUSSELS/HELSINKI - Finnish paper firm Ahlstrom is set to secure European Union approval for the merger of its label unit with Munksjo to form the world No. 1 specialty paper maker after agreeing to sell a German business, a person familiar with the matter said on Tuesday.
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