Ahlstrom-Munksjö signs a non-binding letter of intent to acquire Chinese decor paper producer Minglian
Ahlstrom-Munksjö has signed a non-binding letter of intent with the majority shareholders of Hebei Minglian New Materials Technology Co., Ltd. to acquire the company, comprising a state-of-the-art greenfield decor paper plant in the city of Xingtai, Hebei Province, China. The debt free purchase price is approximately EUR 60 million. The letter of intent contains customary exclusivity undertakings on the part of the sellers with respect to the considered transaction. The transaction is subject to further due diligence and final and binding transaction agreements, and it is expected to be completed during the first quarter of 2020. By combining Minglian with its existing Decor business, Ahlstrom-Munksjö would have a strong presence in the world’s two largest decor paper markets and improved cost competitiveness.