AHLSTROM Corporation will simplify its structure and organization to enable faster execution and stronger accountability within its business areas. The move aims to accelerate profitability improvement. The new structure will be effective as of January 1, 2015. In addition, the composition of Ahlstrom's executive management team will change with immediate effect.
The new organizational structure will consist three business areas—Filtration, Building and Energy, and Food and Medical. These areas will have stronger operational alignment, including responsibility for sales and marketing, technical customer service, product development and operations. Previously, Ahlstrom's filtration business was split into two business areas, Advanced Filtration and Transportation Filtration.
Ahlstrom said it has also agreed to sell its 66.6 million shares in Suominen Corporation to AC Invest Two B.V., a company within the Ahlstr?m Capital Group. It will sell its 26.9% stake in Suominen at a price of €0.50 per share, valuing the shareholding at €33.3 million. The transaction is expected to be completed within the next five days.
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