The Building & Wind business unit produces glassfiber tissue used mainly in flooring applications as well as reinforcements used in windmill blades. In 2014 the net sales of the business was approximately EUR 77 million and the business was profitable. The unit operates two plants in Finland in Karhula and Mikkeli and one in Tver, Russia, employing in total approximately 260 persons. It serves markets mainly in Europe and Russia as well as in North America and Asia. "This transaction will strengthen our balance sheet and enables us to develop other businesses more efficiently and pursue growth in areas aligned to our strategy," says Marco Levi, President & CEO of Ahlstrom. "We are happy to have identified Owens Corning as the buyer as it is vertically integrated and has ample resources to develop the glassfiber business further. We also believe this is a good solution for the unit's employees transferring to the new owner."
Clearwater Paper Corporation (NYSE: CLW) today announced the indefinite closure of its Neenah, Wisconsin facility, which includes three tissue machines and ten converting lines, removing a total paper production capacity of approximately 54,000 tons. Clearwater Paper intends to indefinitely close Neenah and exit the away from home business by the end of July 2021.
“Despite the best efforts of our dedicated employees, our Neenah location and assets cannot cost effectively compete in the markets that we serve,” said Arsen Kitch, president and chief executive officer. “This was a difficult decision, because it affects our people, their families and the Neenah community.”
The facility’s approximately 290 employees will be impacted by the closure. “We are committed to supporting our people through this challenging time,” said Kitch. The company and the union will be meeting this week to discuss the impact on employees.
The company will work closely with the union and state employment agencies to assist impacted employees in receiving training, and other benefits that enable them to find new employment as quickly as possible. The company will also offer career assistance services to help employees through this difficult time.
Clearwater Paper acquired the Neenah mill in 2010 and produced private brand tissue products for commercial and retail customers at the mill.