Fibre-based materials supplier Ahlstrom has agreed to divest its Stenay plant in France to Munich-based investment fund, Accursia Capital.

Stenay plant specialises in producing one-side coated specialty papers for use in the packaging sector.

It has annual capacity of approximately 55,000t of specialty paper and employs 127 people.

The agreement comes after Accursia Capital announced binding offer on the plant in July this year.

In March this year, the company launched consultation process with employee representatives about potential divesture or closure of the plant.

Ahlstrom confirmed the divestment after receiving endorsement from the site’s employee representatives.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The transaction is expected to be completed by the end of next month.

Financial terms of the agreement have not been disclosed.

Ahlstrom food and consumer packaging division EVP Mark Ushpol said: “We are delighted to announce this positive outcome for the future of our Stenay plant, its employees and the community of Stenay. This would not have been possible without the role of our team on site and the collaboration of all stakeholders. A new chapter in the plant’s history starts now with Accursia Capital.”

Following the acquisition, Accursia Capital aims to develop the Stenay plant to guarantee its long-term future and secure the jobs of its employees.

Accursia Capital managing director Martin Scheiblegger said: “This acquisition is part of a long-term investment strategy aimed at making Stenay a leading player in the highly competitive paper-based packaging market. We therefore look forward to developing the business of the Stenay site in collaboration with the employees.”