"Good progress has been made in the discussions between the Government of Uruguay and UPM concerning the infrastructure development and other local prerequisites for long-term industrial growth in Uruguay. We are now in agreement regarding the majority of the key items on the negotiation agenda," says Jaakko Sarantola, Senior Vice President, UPM, Uruguay Platform. "Some remaining items still need to be solved as we start the work on the contract language which will specify the mutual responsibilities. Our focus lies heavily on solving these remaining topics," says Sarantola.
Expera Specialty Solutions, LLC (“Expera”) announced today that Ahlstrom‐Munksjö has completed the acquisition of U.S. specialty paper producer Expera for an enterprise value of USD 615 million (EUR 526 million) on a cash and debt free basis. The transformative acquisition will expand Ahlstrom‐Munksjö’s presence in North America and further strengthen its offering of advanced custom‐made fiber‐based materials.
Expera is among the leading specialty paper producers in North America with four paper mills located in the state of Wisconsin, U.S.
Hans Sohlström, President and CEO of Ahlstrom‐Munksjö, comments: “This acquisition is a major step in the execution of our strategy. It will further strengthen our position in fiber based materials and enable us to offer more value to our customers, particularly in North America, but also around the world. We have complementary capabilities and can create further value through joint product development and sharing of best practices. Finally, I would like to welcome Expera’s personnel to Ahlstrom‐Munksjö.”
Russ Wanke, the former President and CEO of Expera, has been appointed Executive Vice President, North America Specialty Solutions and a member of Ahlstrom‐Munksjö’s Executive Management Team. “Our companies are stronger together. We share a deep papermaking history with customer‐focused values,” Wanke commented. “As a larger Ahlstrom‐Munksjö, the combined resources will allow us to better serve our customers, and in doing so promote continued revenue growth and customer, end‐application, and geographic diversification.”
The acquisition was announced on July 23, 2018. Customary regulatory approvals have been received for the transaction.
Expera will be consolidated as part of Ahlstrom‐Munksjö from October 10, 2018 onwards with more detailed information on the impact of the acquisition to its consolidated accounts in Ahlstrom‐Munksjö’s fourth quarter report.