Suominen Corporation Stock Exchange Release 27 May 2015 at 9:30am EEST
Suominen, a globally leading supplier of nonwovens, confirms that it has decided to invest in a new wetlaid production line in its Bethune plant, South Carolina, USA. Since the negotiations with machinery and service suppliers are still pending, the total cost of the investment project will be disclosed later. The investment is expected to create at least 25 jobs at the Bethune plant and the new line is anticipated to be installed during the second half of 2016.
The investment constitutes the most significant single initiative in Suominen’s EUR 30 – 50 million growth investment program launched at the end of 2014 and supports Suominen’s targeted growth during the strategic period of 2015–2017. Through successful strategy execution, as announced earlier, Suominen would become a company with net sales of roughly EUR 500 million by the end of 2017.
“To achieve the targeted substantial growth, we seek to increase both our sales volumes and the share of products with higher value-added in our portfolio. Therefore, the new production line will focus on supplying nonwovens with higher added value for household and industrial wiping as well as for flushable applications,” says Ms Nina Kopola, President & CEO of Suominen Corporation.
The demand for nonwovens is expected to continue to develop favorably, thanks to several global megatrends. “Global growth in the number of hospital-acquired infections, for example, boosts the demand for hygienic single-use industrial wipes for healthcare institutions. At the same time, consumers desire top-notch cleanliness and convenience in daily housekeeping routines, which drives the demand for easy-to-use, antibacterial disposable wipes for housekeeping and for flushable and dispersible toilet wipes. These are just examples of the megatrends that accelerate the demand for nonwovens,” Nina Kopola continues.
To celebrate the investment, Suominen holds a VIP event at its Bethune, SC plant on 2 June 2015. The company hosts, among others, Ms Nikki R. Haley, Governor of South Carolina, as a guest of honor.
Nina Kopola, President & CEO
For further information, please contact:
Nina Kopola, President & CEO, tel +358 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 2014 amounted to MEUR 401.8 and operating profit excluding non-recurring items to MEUR 26.9 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.