14 April 2015
14 April 2015
Suominen has started a planning process to execute an investment in a new wetlaid production line in North America.
Suominen believe that, if the planning process proceeds as expected, the location of the planned manufacturing line would be its existing plant in Bethune, South Carolina, US.
As announced in January, the planned investment constitutes the most significant single initiative in Suominen’s 30–50 million Euro investment program and supports Suominen’s growth target for the strategic period of 2015–2017.
“The planned manufacturing line would contribute essentially for the execution of Suominen’s growth strategy. Through successful strategy execution, as we have announced, Suominen would become a company with a net sales of roughly EUR 500 million by the end of 2017. Besides, the investment would support our target to further increase the share of products with higher value-added in our portfolio,” Saara Söderberg, Vice President, Marketing & Product Management and the Project Manager of the investment initiative, says.
“We selected the Bethune plant as the platform for this potential investment for several strategic and financial reasons. Bethune is ideally located in the Carolinas, the nonwovens hub of North America, and is favourably located from a logistical standpoint of serving our customers and managing our raw materials. Moreover, the Bethune plant already has ongoing operations, a very talented staff, and has considerable infrastructure already in place for the expansion,” according to Larry L. Kinn, Senior Vice President, Operations Americas.
Suominen continues to prepare the investment project, with finalisation of the decision still pending. Therefore Suominen cannot yet comment on the total value of the investment.