Ahlstrom targets €35m in cost savings

Ahlstrom is to expand its rightsizing program to reach annual cost savings of €35 million by the end of 2014.

This target includes the earlier announced €15 million rightsizing measures, of which approximately €10 million will be derived from the transfer of certain sales, finance and information services related personnel and cost to Munksjö by the end of May 2014.

Ahlstrom has started the process of transferring its Label and Processing business to Munksjö, including base papers for metallized packaging and coated flexible food packaging papers.

Ahlstrom president and chief executive officer Jan Lång said: ‘Ahlstrom has in the past three years executed a significant transformation of the company, as our business portfolio has been reshaped through major transactions, including the divestment of our wipes business, Home and Personal, and the combination of our specialty papers business, Label and Processing, with Munksjö.

‘At the same time, we have been reshaping our business processes through key development programs.’

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