STOCKHOLM - Speciality materials manufacturer Ahlstrom is to sell it Aspa pulp mill in Sweden to Sweden Timber.

The agreement, which includes the pulp mill and all its operations, is said to be a key step in Ahlstrom's growth strategy, reinforcing the company’s strategic commitment to sustainable, fibre-based materials.

Aspa pulp mill produces bleached and unbleached softwood pulp that is used in a broad range of applications in paper and sold globally. It has an annual capacity of approximately 200,000 tonnes and 174 employees.

Several external parties have expressed interest in acquiring the Aspa plant throughout the years.

Ahlstrom said it was important to find an owner who has an interest in further developing the mill and ensuring its long-term success. Sweden Timber is a Swedish wood processing company with assets also in papermaking and wood composites.

Wolfgang Laures, chief operating officer at Ahlstrom, commented: “Aspa mill and its employees have done a great job contributing to Ahlstrom’s success over the years, and I’m very thankful for that.

“We believe that Aspa will have a better home with Sweden Timber, which is looking to develop its pulp production capabilities. This divestment allows us to focus on Ahlstrom’s specialty materials portfolio.”

Mikael Arvidsson, Sweden Timber, added: “We look forward to continuing business and developing Aspa together with the mill’s experienced team.

“We are committed to continuing to serve existing customers in the future with Aspa’s high-quality pulp.”

The transaction is expected to be completed during the fourth quarter of 2024.