Ahlstrom, a sustainable fibre-based speciality materials company, has confirmed its decision to divest the Aspa pulp mill in Sweden for an undisclosed amount.
This move is part of Ahlstrom's strategic shift towards enhancing its presence in the sustainable speciality materials market.
The deal, signed with Sweden Timber, includes the pulp mill and all its operations.
Ahlstrom has already implemented a strategic transformation programme to simplify its divisional structure to accelerate growth.
The company is reducing its number of divisions from five to three to support the ongoing strategy execution.
In July this year, Ahlstrom decided to move ahead with the closure of its plant in Bousbecque, France.
Sweden Timber is a wood processing company with interests in papermaking and wood composites.
Sweden Timber CEO and sales head Mikael Arvidsson said: “We look forward to continuing business and developing Aspa together with the mill’s experienced team. We are committed to continuing to serve existing customers in the future with Aspa’s high-quality pulp.”
The Aspa pulp mill specialises in producing both bleached and unbleached softwood pulp, catering to a wide array of applications in the paper industry and boasting a global sales footprint.
The mill has an annual production capacity of approximately 200,000 tonnes and a workforce of 174.
The interest in acquiring the Aspa facility has been notable over the years, with multiple external parties considering the acquisition.
Ahlstrom prioritised finding a buyer committed to the mill's future development and long-term prosperity.
The completion of this transaction is anticipated during the fourth quarter (Q4) of 2024.
Throughout the divestment process, Ahlstrom said it is dedicated to ensuring operational continuity and facilitating a smooth transition for the mill and its employees.
Ahlstrom COO Wolfgang Laures said: “Aspa mill and its employees have done a great job contributing to Ahlstrom’s success over the years, and I’m very thankful for that. We believe that Aspa will have a better home with Sweden Timber, which is looking to develop its pulp production capabilities. This divestment allows us to focus on Ahlstrom’s speciality materials portfolio.”
