Third Quarter Highlights •Revenue of $245.1 million increased 5 percent, or $12.2 million, from $232.9 million in the prior year. •Operating income of $29.0 million increased 8 percent, or $2.1 million, from $26.9 million in the prior year. •Earnings per diluted share (E.P.S.) of $1.10 increased 16 percent from $0.95 per share in 2016. •On an adjusted basis, E.P.S. of $1.02 in 2017 increased 3 percent from $0.99 in 2016. Adjusted E.P.S. excluded $0.12 per share in 2017 for net proceeds from an insurance settlement, and acquisition, integration, and restructuring costs of $0.04 per share in both years. •Cash generated from operations of $36.2 million decreased from $40.6 million in 2016 while capital spending of $8.0 million in the quarter decreased from $20.8 million in the third quarter of 2016. •A binding agreement was signed to acquire Coldenhove, a Netherlands-based performance materials company and leader in digital transfer media, with annual sales of $45 million. Closing occurred on November 1, with a payment of $45 million. Click Read More below for additional information.
Ahlstrom-Munksjö expands its platform of durable building applications by launching FibRoc® Ceiling, a new offering of high performance solutions for ceiling applications.
Following the launch of Fibroc® Flooring last year, Ahlstrom-Munksjö is pleased to announce the second portfolio launch of Fibroc® Ceiling. The new portfolio consists of a wide range of high performance fiber-based solutions for perforated plasterboard ceilings, mineral wool and wet felt ceilings, as well as perforated wood and metal ceilings. It brings together a wide range of high performance products for ceiling applications, making it easier for business partners to recognize and understand the product benefits.
“Our high performance products deliver an excellent level of noise reduction,“ says Pierre Mary, Vice President, Nonwovens. “Delivering acoustic comfort within a room, as well as incorporating fire resistance, while meeting necessary safety standards” he adds. ”Our extensive and sustainable product range also offers options for formaldehyde free binder solutions,” adds Pekka Helynranta, Vice President, Glass Fiber Tissue. “Our unique manufacturing and technological platforms enables flexible development and customized solutions for customers,” Pierre and Pekka conclude.
Fibroc® is a range of high performance materials for durable applications. It is an evolving platform, where specific portfolios will be rolled out, delivering optimum customer benefits for targeted building applications. Ahlstrom-Munksjö has a history of supplying products to the building industry for over 40 years.
Security of supply is delivered through the main Fibroc® manufacturing platforms of Karhula (Finland), Tver (Russia), Brignoud (France), in addition to Stalldalen (Sweden). These 4 plants are fully certified for quality (ISO 9001), safety (OHSAS 18001), and environmental (ISO 14001) standards.
Further product portfolios from the Fibroc® platform will be rolled out in the future.