Ahlstrom cuts another 57 jobs in profit improvement program
Dec 01, 2011. Ahlstrom has decided to reduce 35 employees at its Jacarei plant in Brazil, part of the Label and Processing business area, due to the weakened market conditions in coated papers in South America. In addition, streamlining measures at other plants affect a total of 22 people.
Dec 01, 2011. /Lesprom Network/. Ahlstrom Corporation concludes its profit improvement program with measures affecting a total of 57 people in different locations, as the company said in a press release received by Lesprom Network.
Ahlstrom has decided to reduce 35 employees at its Jacarei plant in Brazil, part of the Label and Processing business area, due to the weakened market conditions in coated papers in South America. In addition, streamlining measures at other plants affect a total of 22 people.
The measures announced today are the final steps in the profit improvement program, announced on October 18, 2011. Under the program, the company announced profit improvement measures impacting a total of 362 employees in various plants worldwide.
The program is expected to improve annual operating profit by approximately Euro 15 million starting from the year 2012. The overall impact of the non-recurring items of the program is cash neutral.
Ahlstrom will book non-recurring costs of about Euro 1.4 million primarily for the measures at Jacarei in its 4Q 2011 financial results. For the entire profit improvement program, the company incurred a non-recurring cost totaling Euro 33.4 million, of which Euro 25 million was booked in the 3Q and Euro 8.4 million will be booked in the 4Q 2011 results.
Ahlstrom will make every effort in supporting employees affected by the change.