Divestment of glass fiber reinforcement business

27.11.2019 The fiber-based materials solution supplier Ahlstrom-Munksjö Oy, Helsinki/Finland, has agreed to sell its glass fiber reinforcement business in Mikkeli/Finland, to Vitrulan Composites Oy, Helsinki, a fully owned subsidiary of Vitrulan Group and part of the family-owned industrial holding Adcuram Group AG, Munich/Germany.

© Photo: Ahlstrom Munksjö
The Mikkeli plant is part of Ahlstrom’s Filtration and Performance business area. It produces glass and carbon-based reinforcement fabrics. The main product offering consists of specialty glass fiber reinforcements for wind energy applications as well as for other end-uses including marine and transportation applications.
At the end of 2018 the plant employed about 100 people with net sales of approx. €30 million. The debt free purchase price is €6.5 million and the transaction is expected to be completed during Q4/2019. Ahlstrom-Munksjö will continue to produce glass fiber tissue at its plants in Karhula/Finland, and Tver/Russia.
The Mikkeli glass fiber reinforcement business will bring significant growth to Vitrulan Group which produces highly resilient glass fiber-based woven materials.
Vitrulan has around 400 employees and generates net sales of approx. €60 million. Its woven materials are used in public and private buildings, reinforcing and backing fabrics, laminates and special products.
Adcuram comprises 6 subsidiaries with combined sales of more than €400 million and around 2,500 employees globally. It actively develops its subsidiaries with the aim of significant growth.