Leader in high performance fiber-based solutions Ahlstrom Corporation has reported that it has signed an agreement to acquire HRS Textiles Inc, based in Darlington, SC, USA, a manufacturer of specialty nonwovens, serving mainly the North American air and liquid filtration markets.
This acquisition will strengthen Ahlstrom's position in the air and liquid filtration markets in North America, particularly in the HVAC segment. It continues Ahlstrom's growth strategy in filtration, and comes as a strategic fit to complement previous acquisitions.
Ahlstrom is one of the leading filtration media suppliers globally and this acquisition further reinforces the company's expansion strategy to become a major supplier to the air, liquid and transportation filtration markets.
The transaction, expected to close before the end of the month, will add approximately $20 million (€17 million) in sales to Ahlstrom's Filtration business and includes all assets of HRS in Darlington, SC, USA.
The new entity will operate as part of Ahlstrom Air Media LLC. HRS currently employs 120 people.
Scott Murdock, VP Filtration for North America, said, “Ahlstrom continues to commit to the filtration market and views the HVAC segment as a key growth area.”
“The integration of HRS will even further strengthen our offering in North America and enable us to manufacture close to our customers a complete range of versatile and high performance products,” Murdock said.
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