Ahlstrom-Munksjö completes the sale of glass fiber reinforcement business

 

On Dec. 31, Ahlstrom-Munksjö (Mikkeli, Finland) announced that it has completed the sale of its glass fiber reinforcement business in Mikkeli, Finland, to Vitrulan Composites Oy, a fully owned subsidiary of Vitrulan Group and part of the family-owned industrial holding ADCURAM Group.

The transaction was announced on November 21, 2019. Ahlstrom-Munksjö reported then that it will continue its glass fiber production operations at its plants in Karhula, Finland and Tver, Russia.

Ahlstrom-Munksjö’s Mikkeli plant produces glass- and carbon fiber-based reinforcement fabrics, particularly glass fiber reinforcements for wind energy, marine and transportation applications. At the end of 2018, the plant employed about 100 people and net sales of approximately €30 million ($33 million). 

Vitrulan Group produces highly resilient glass fiber-based woven materials, has approximately 400 employees and generates net sales of approximately €60 million ($66 million). Its woven materials are used in public and private buildings, reinforcing and backing fabrics, laminates and special products.

ADCURAM comprises six subsidiaries with a combined sales of more than €​​​​​​​400 million and around 2,500 employees globally. It actively develops its subsidiaries with the aim of significant growth.