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Suominen has extended 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 has specified the total value of its investment in a new wet-laid line at the Bethune plant in South Carolina, US. The total value of the investment project, including both equipment and facilities, will be close to EUR 50 million. Suominen says it has selected Andritz as the main supplier and integrator of the project.
“With the investment at Bethune plant, Suominen will take the wet-laid 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 forecast 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,” Nina Kopola, President & CEO of Suominen Corporation, says.
The new line is anticipated to be installed during the second half of 2016.
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