FRANCE (News release) -- Ahlstrom will proceed with the closure of the Bousbecque plant in France. The plant has an annual capacity of approximately 12,000 tons and employs 117 people. Ahlstrom continues to explore options to divest the property.

In April 2024, Ahlstrom initiated a consultation process with employee representatives on the possibility to divest or close the Bousbecque plant and to centralize parchment paper production to its Saint-Séverin plant, also in France, to ensure the long-term future and competitiveness of the parchment paper business.

Despite an active search and in-depth dialogue with local stakeholders, Ahlstrom has been unable to find solutions that would allow the Group or a potential buyer to continue operating the Bousbecque plant.

Ahlstrom engaged in an extensive dialogue with French unions and a unanimous agreement has been reached with regards to the content of the job protection plan and the conditions of support for employees at the Bousbecque plant. This agreement will provide individual support for all employees concerned, including the possibility of redeployment at other Ahlstrom sites, as well as other measures to help them pursue their career plans. These measures include but are not limited to assistance from a specialized firm to find a job, redeployment leave, assistance in setting up or taking over a business, training, and assistance with geographical mobility.

In Q2 2024, an impairment loss of Euro 9.8 million has been recognized on the property, plant, and equipment. Additional closure costs will be recognized as items affecting comparability in Q3 2024.

Ahlstrom is a global leader in combining fibers into sustainable specialty materials.