As key step in its strategy execution, Suominen has started a planning process for an investment in a new production line
Helsinki, Finland, 2015-01-30 10:00 CET (GLOBE NEWSWIRE) --
Suominen Corporation Stock Exchange Release 30 January 2015 at 11:00am EET
AS A KEY STEP IN ITS STRATEGY EXECUTION, SUOMINEN HAS STARTED A PLANNING PROCESS FOR AN INVESTMENT IN A NEW PRODUCTION LINE
Suominen, a globally leading supplier of nonwovens, has started a planning process to execute an investment in a new wetlaid production line in order to implement its growth strategy. The planned investment would be the largest single initiative in Suominen’s growth investment program announced in December 2014.
Suominen has a long experience in creating unique products using wetlaid technology and this possible addition would allow Suominen to further strengthen its market leader position.
According to company’s initial plans, the new nonwovens manufacturing line would serve several higher value-adding end-use applications, and would be essential for the execution of Suominen’s growth strategy. Suominen is looking at building the new line in North America, a continent where demand for high value-adding nonwovens has both developed favorably historically and also has attractive growth forecasts.
“I am extremely pleased to announce this major move in the execution of our growth strategy. Since we are still in the preparation phase of the investment project, several important decisions, including selection of machine suppliers, are still to be made. Consequently, we cannot yet comment the total value of the investment, but it is safe to conclude that this constitutes the most significant single initiative in the 30 – 50 million Euro growth investment program we announced in December”, says Nina Kopola, President & CEO of Suominen Corporation.
Nina Kopola, President & CEO
For further information, please contact: Nina Kopola, President & CEO, tel. +358 10 214 300
NASDAQ OMX Helsinki Ltd.
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 2013 amounted to MEUR 373.7 and operating profit excluding non-recurring items to MEUR 19.4 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.