Suominen has completed the divestment of its Flexibles business area
Helsinki, Finland, 2014-07-14 11:10 CEST (GLOBE NEWSWIRE) --
Suominen Corporation Stock exchange release 14 July 2014 at 12.10 (EEST)
SUOMINEN HAS COMPLETED THE DIVESTMENT OF ITS FLEXIBLES BUSINESS AREA
Suominen Corporation has completed the divestment of its flexible packaging business, announced on 11 July 2014. Flexibles business area will be excluded from Suominen’s financial reporting as of today. Previously, Flexibles business area formed Suominen’s Flexibles segment.
As stated in the announcement of 11 July 2014, Suominen will recognize due to the divestment, in accordance with the IFRS 5 standard, a non-recurring loss of approximately MEUR 4.5 in the second quarter result of 2014 of its discontinued operations.
The divestment transformed Suominen into a company purely focused on nonwovens, in line with its strategic focus.
Nina Kopola, President and CEO
For additional information, please contact
Nina Kopola, President and CEO, tel. +358 (0)10 214 300
Suominen in brief
Suominen manufactures nonwovens as roll goods for wipes as well as for medical and hygiene products. The end products made of Suominen’s nonwovens – wet wipes, feminine care products and swabs, for instance - bring added value to the daily life of consumers worldwide. Suominen is the global market leader in nonwovens for wipes and employs approximately 600 people in Europe and in the Americas. Suominen’s net sales in 2013 amounted to MEUR 373.7 and operating profit excluding non-recurring items to MEUR 19.0 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.
NASDAQ OMX Helsinki Ltd.