STOCKHOLM, Dec. 17, 2019 /PRNewswire/ --
Ahlstrom-Munksjö has acquired converting operations in
China and the U.S. from
Shunde Lucas and Altior Industries.
Through the transaction, Ahlstrom-Munksjö will have local
filter converting capacity in China and a foothold for expanding sales of
other products within the Advanced Liquid Technologies business.
Local presence in Asia will
shorten delivery lead times and enable Ahlstrom-Munksjö to
serve its customers even better.
Net sales of
the acquired operations are approximately
USD 7 million and comparable EBITDA
USD 2 million annually, meeting the
Group's comparable EBITDA margin target of above 14%. Their product
offering of hot cooking oil filters is used in quick service
restaurants and food service operations, mainly in China and the U.S. The combined operations are
expected to generate substantial synergy benefits. The debt free
purchase price is approximately USD 11
million.
"I'm pleased that the new foothold in China will facilitate growth for a wide range
of our product offering within our highly attractive Advanced
Liquid Technologies business. This deal will also double the
company's sales in fry oil filters and make us a global leader in
this niche business - a foundation for creating long term value for
our stakeholders. In the future our ambition is to expand the
Advanced Liquid Technologies business even more through organic
growth and acquisitions," says President and CEO
Hans Sohlström.
About the Advanced Liquid Technologies business
Ahlstrom-Munksjö's Advanced Liquid Technologies business
offers high quality filter solutions for laboratory sample
preparation and life science diagnostics materials to be used by
laboratories and manufacturers of rapid test kits as well as for
collection of biosamples. It also offers high-performance
filter media for water purification devices and food and beverage
processing industry. Thanks to the robust demand drivers, the
Advanced Liquid Technologies business is one of
Ahlstrom-Munksjö's fastest growing and highly profitable
businesses. Net sales were EUR 73
million and comparable EBITDA margin 30% in 2018. The
favorable development reflects successful product development to
downstream markets, including high added value and new
technologies. The Advanced Liquid Technologies business is part of
the Specialties business area.
Going forward in Advanced Liquid Technologies
Ahlstrom-Munksjö aims to strengthen its market position in
life science and laboratory product segment through further product
development and partnerships. In water purification, the business
will build market awareness of its
proprietary DisruptorTM technology and confirm technology
adoption in existing target segments, while proceeding with
initiatives to broaden the scope of the technology. In the food and
beverage processing segment, market position will be further
reinforced.
For more information, please contact:
Marco Troglia
Vice President
Release Liners
+39-011-926-0188
marco.troglia@ahlstrom-munksjo.com
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/ahlstrom-munksjo/r/ahlstrom-munksjo-establishes-a-growth-platform-for-its-attractive-advanced-liquid-technologies-busin,c2992603