With this deal, expected to close by the end of September, Accursia Capital intends to develop the Stenay plant to guarantee the Stenay plant's long-term viability and secure the jobs of its workers
Finland-based fibre-based products maker Ahlstrom has inked an agreement to divest its Stenay plant in France to Accursia Capital, following the latter’s binding offer announcement in July this year.
Accursia Capital is a Munich, Germany-based investment company that makes investments in mid-sized industrial businesses.
The divestment move was finalised following approval from the site’s staff representatives.
The deal is anticipated to be closed by the end of September.
Accursia Capital intends to develop the Stenay plant to guarantee the Stenay plant’s long-term viability and secure the jobs of its workers.
Ahlstrom Food and Consumer Packaging division EVP Mark Ushpol said: “We are delighted to announce this positive outcome for the future of our Stenay plant, its employees and the community of Stenay.
“This would not have been possible without the role of our team on site and the collaboration of all stakeholders. A new chapter in the plant’s history starts now with Accursia Capital.”
Ahlstrom is engaged in combining fibres into sustainable speciality materials for filtration, food & consumer packaging, healthcare, building materials, and technical materials sectors.
Accursia Capital managing director Martin Scheiblegger said: “This acquisition is part of a long-term investment strategy aimed at making Stenay a leading player in the highly competitive paper-based packaging market.
“We therefore look forward to developing the business of the Stenay site in collaboration with the employees.”
In March this year, the fibre-based products maker announced that its Cristal Transparent Packaging Papers have satisfied ChemFORWARD’s evaluation of human and environmental criteria for safer alternatives via its SAFER programme.