Ahlstrom-Munksjö to change name to Ahlstrom
Following the ownership reorganization of its Decor business, estimated to be completed by the end of the 3Q 2022, Ahlstrom-Munksjö plans to change its business name to Ahlstrom.
Ahlstrom-Munksjö is uniquely positioned to capture additional value from the growing markets for fiber-based specialty materials and make a larger contribution to society through its strong market position. Megatrends such as higher air/water quality requirements, restrictions on use of harmful chemicals, increasing health awareness as well as plastic-to-paper substitution and e-commerce in packaging will create growth opportunities.
Ahlstrom-Munksjö commits to the 1.5°C Science Based Target initiative towards 2030 and to Net Zero emissions by 2050 the latest. Effective as of July 1, 2022, the Group will serve five growing and distinctive end markets, also forming the basis for five divisions, allowing for significant organic and inorganic growth. The five end-markets and corresponding divisions are:
Filtration – Mission-critical air and liquid filtration applications. Market growth is driven by higher purity and emission standards in automotive and industrial processes. Daniele Borlatto with a background in Filtration and Performance Solutions will continue as EVP of the Filtration division.
Food & Consumer Packaging – Solutions for improved food safety, product preservation, and bacteria prevention, helping extend product life and protect human health. Market growth is driven by a shift towards home delivery and e-commerce, and sustainable substitution of plastic with paper. Mark Ushpol with a background in the paper and packaging industry will continue as EVP of the Food & Consumer Packaging division.
Healthcare – Technologies serving essential societal uses in medical, laboratory, and life science settings including diagnostics, bioprocessing, and medical performance barriers. Market growth is supported by increasing health consciousness, at-home-testing, and the development and use of advanced bioprocessing. Markus Westerkamp will serve as interim EVP of the Healthcare division until a new appointment is made.
Building Materials – Highly engineered building material applications for every face of the building. Market growth is driven by urbanization and increasing demand for sustainable building materials. Daniele Borlatto will serve as interim EVP of the Building Materials division until a new appointment is made.
Technical Materials – Highly technical applications including protective materials such as insulation, precision coating, tape, and others. Market growth is driven by increasing performance characteristics in demanding technical applications, emission reductions, and substitution of plastics to paper. Sophie Haan with a background in process and specialty industries will lead the Technical Materials division as EVP starting in September 2022 when current EVP, Dan Adrianzon, retires.
Furthermore, a new COO function is established to support the decentralized operating model and drive plant performance improvements. Markus Westerkamp, with a background as EVP of Advanced Solutions at Ahlstrom-Munksjö, will take on the role as Chief Operating Officer, effective as of July 1, 2022. New EVP appointments for Healthcare and Building Materials divisions will be communicated later.