Suominen extends growth investment program to €60 million

0
87

Suominen, a globally leading supplier of nonwovens for wiping, hygiene, and medical applications, has decided to extend its growth investment program to approximately €60 million due to the promising growth prospects in the high value added nonwovens.

Earlier, Suominen had stated that the company will spend €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 €50 million. Suominen has selected Andritz, Austria’s leading supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, as the main supplier and integrator of the project, according to a press release.

Ms. Nina Kopola, president & CEO of Suominen Corporation said, “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.”

The new line is anticipated to be installed during the second half of 2016. (GK)

Source: Free Textile and Fashion Industry News RSS XML Feeds – Fibre2fashion

LEAVE A REPLY