Paper straws are becoming more and more common as cities and major companies across America ditch the plastic straw. Footprint, a Gilbert-based company, is now set to make 27 million paper straws a day and create 260 jobs at their new state-of-the-art 135,000-square-foot Gilbert production facility. The new paper straw production lines will start officially making paper straws on October 1st. ABC15 got a sneak peak of production ahead of that launch, getting a first-hand look at how paper straws are made. Troy Swope, founder and CEO of Footprint, says he trusts that Arizona has the innovation and talent to turn paper straw critics into believers. Click Read More below for additional information.
The Boards of Directors of Ahlstrom Corporation (“Ahlstrom”) and Munksjö Oyj (“Munksjö”) have today resolved to complete the merger of Ahlstrom into Munksjö in accordance with the merger plan. The combination of Ahlstrom and Munksjö creates a global leader in sustainable and innovative fiber-based solutions with a combined annual net sales of approximately EUR 2.2 billion, approximately 6,200 employees and 41 production and converting facilities in 14 countries. The registration of the execution of the merger is expected to take place on April 1, 2017.
The name of the combined company will change to Ahlstrom-Munksjö Oyj (“Ahlstrom-Munksjö”) upon the registration of the execution of the merger. A total of 45,376,992 new shares in Ahlstrom-Munksjö will be issued as merger consideration to Ahlstrom’s shareholders. The new shares are expected to be registered with the Finnish Trade Register on April 1, 2017. Trading in the new shares is expected to commence on the Nasdaq Helsinki and Nasdaq Stockholm stock exchanges on April 3, 2017. Following the merger, the trading codes for Ahlstrom-Munksjö’s shares will be AM1 on Nasdaq Helsinki and AM1S on Nasdaq Stockholm. Furthermore, the trading code on Nasdaq Helsinki for the EUR 100,000,000 senior unsecured callable fixed rate notes due 2019 will be AMJ041219.
Ahlstrom-Munksjö will publish its interim report for January-March 2017 on April 26, 2017 and pro forma financial information on the combined company on or about May 15, 2017. A stock exchange release on the unaudited final accounts of Ahlstrom for January-March 2017 will be published on April 26, 2017.