Suominen Corporation Stock Exchange Release 1 September 2015 at 8.45 am EEST
Suominen, a global manufacturer of nonwovens, announces it has decided to extend its growth investment program to approximately EUR 60 million due to the promising growth prospects in the high value added nonwovens. Earlier, Suominen had stated that the company will spend EUR 30–50 million in growth investments during the strategic period of 2015–2017.
Additionally, Suominen specifies the total value of its investment in a new wetlaid line at the Bethune plant in SC, US. The total value of the investment project, including both equipment and facilities, will be close to EUR 50 million. Suominen has selected Andritz as the main supplier and integrator of the project.
“With the investment at Bethune plant, Suominen will take the wetlaid technology to a totally new level in its industry. The new manufacturing line will be tailor-made, based on our unique nonwovens technology expertise, enabling us to supply our customers with exclusive, best-in-class nonwoven products for wiping, medical or hygiene applications. This is perfectly in line with our strategic intent to achieve product leadership. As the demand for nonwovens with higher value added is forecasted to grow at an attractive pace, I am pleased that we are able to intensify our growth investment program which supports our target to achieve the above-industry-average growth in our net sales”, Ms. Nina Kopola, President & CEO of Suominen Corporation, says.
The new line is anticipated to be installed during the second half of 2016.
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.