The two companies Heimbach and Asten Johnson have canceled their merger plans, according to Euwid. The merger was meant to create a global player on the market for paper machine clothings (PMC) with a leading position in key pulp and paper making regions. Now, the transaction is called off.
The two companies saw great potential in merging Heimbach’s paper machine clothing business with Asten Johnson’s advanced fabrics division and regret that the transaction had to be called off. However, the obstacles to the merger simply proved too great to overcome at this time, according to Euwid.