Ahlstrom, a sustainable speciality materials company, has decided to move ahead with the closure of its plant in Bousbecque, France.
The decision comes after an unsuccessful attempt to divest the facility, which employs 117 people and has an annual capacity of approximately 12,000 tons (t).
The company initiated a consultation process with employee representatives in April this year to explore the divestiture or closure of the French plant.
Ahlstrom also plans to centralise parchment paper production at its Saint-Séverin plant, also located in France, aiming to secure the long-term future and competitiveness of its parchment paper business.
Despite engaging in active discussions with local stakeholders, Ahlstrom has not found a viable solution to keep the Bousbecque plant operational, either under its own management or through a potential buyer.
The company said that it is still considering options to divest the property.
Access the most comprehensive Company Profiles
on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Company Profile – free
sample
Your download email will arrive shortly
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
Ahlstrom has reached a unanimous agreement with French unions regarding the job protection plan and the support conditions for the Bousbecque plant’s employees.
The agreement ensures individual support for all affected employees, including opportunities for redeployment within Ahlstrom, and assistance in job searching, business setup or takeover, training, and geographical mobility.
Ahlstrom Global food packaging vice-president Guillaume Latourrette said: “Our priority is to provide individual and tailored support to all employees who will be affected in order to find a solution for everyone.
“We will continue to work closely with local and national authorities and various other players to support the employees concerned.”
For the second quarter (Q2) of 2024, Ahlstrom has recognised an impairment loss of €9.8m ($10.62m) on the property, plant, and equipment.
Additional costs associated with the closure will be recorded as items affecting comparability in Q3 2024.
In April this year, Ahlstrom announced a restructuring of its divisions, consolidating from five to three, in a strategic move to bolster its market position.
