On March 25, 2021, during the Annual General Meeting of the nonwovens producer Suominen Corp., Helsinki/Finland, Jaakko Eskola was elected as a new member of the Board. The number of Board members remains unchanged at 6.
Andreas Ahlström, Björn Borgman, Nina Linander, Sari Pajari-Sederholm and Laura Raitio were re-elected as members of the Board. All elected members are independent of the company. They are also independent of Suominen’s significant shareholders, with the exception of Andreas Ahlström who acts currently as Investment Director at Ahlström Capital Oy. The largest shareholder of Suominen Corporation, Ahlstrom Capital B.V., is a group company of Ahlström Capital Oy.
Moreover, Suominen has sold its minority share of Lonsdale Capital Partners LLP, London/UK, to Hanmere Polythene Ltd, Letchworth Garden City/UK, a portfolio company of the UK private equity group Chiltern Capital on March 19, 2021. The transaction will positively impact Suominen’s 2021 financial items by €3.7 million and cash flow by €11.6 million. The transaction will not have a material effect on Suominen’s result going forward.