Fiberweb completes sale of Hygiene Wipes business for Euro 65 million (£44.2 million)
25 May 2007
Fiberweb plc announces it has completed as planned the sale of its hygiene wipes business to Ahlstrom, the Finnish global manufacturer of speciality papers and nonwoven products for a total cash consideration of Euro 65 million (£44.2 million). The divestment was announced in March 2007 and includes operations in US, Spain and Italy manufacturing wipes for baby care, personal care and household applications. The business had 2006 revenues of around £83 million per annum and employed approximately 400 people.
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Contacts
Fiberweb plc
0208 439 8594
Daniel Dayan, Chief Executive
Simon Bowles, Chief Financial Officer
Weber Shandwick Financial
0207 067 0700
Ian Bailey / Nick Dibden / James White