Ahlstrom of Helsinki, Finland, has announced plans to cut its costs by €35 million a year by the end of 2014. The company, which specializes in making products based on high-performance fibres, says the key changes needed to achieve this will be: 1.the completion of divestments of parts of the business; 2.consolidation and improvements to the efficiencies of its sales and general administration functions; 3.productivity improvements throughout the supply chain. As a result, about 350 staff will be lost. In the last three years, Ahlstrom has divested its wipes business, and Home and Personal division, as well as combining its Label and Processing division with Munksjo of Stockholm, Sweden. About €10 million of the proposed savings will come from the transfer of some of the staff in sales, finance and information services, as well as related costs, to Munksjo by May 2014.
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