AHLSTROM-MUNKSJÖ OYJ PRESS RELEASE MAY 10, 2021 at 15:00 EEST
Ahlstrom-Munksjö will invest EUR 58 million in a new glass fiber tissue production line in the U.S. to support the flooring industry in North America. The investment will further strengthen the company’s position as a leading global supplier of high performance materials. The new line will produce a full range of glass fiber tissue nonwovens with a main focus on Luxury Vinyl Tiles and Vinyl sheet materials. Customer deliveries from the new line are expected to start in mid-2023.
"The investment in this new state-of-the-art foam forming glass fiber in the U.S. is a major step in Ahlstrom-Munksjö's global growth strategy in glass fiber tissue market. In combination with our existing plants in Finland and Russia, this new plant will further strengthen our leadership in this field by consolidating our global position in flooring applications but also by giving us a unique platform to expand into other glass fiber tissue applications," says Hans Sohlström, President & CEO of Ahlstrom-Munksjö.
The new line will be installed on the Madisonville site, Kentucky, where Ahlstrom-Munksjö already has an established plant developing and producing filtration materials for transportation and industrial applications. The necessary land area has been granted by the local authorities in Kentucky.
“I want to thank Ahlstrom-Munksjö for this significant commitment to Madisonville, Hopkins County and the commonwealth. This facility has long been an important part of the community, and the company’s continued growth is incredible news for residents throughout the region. The creation of more than 50 high quality jobs promises a brighter future for families in the area, and positions the company for even more success in the years ahead,” comments Kentucky Governor Andy Beshear.
The North American demand for flooring materials is estimated to grow annually by 5%, and specifically by 11% for Luxury Vinyl Tile. "We will use Ahlstrom-Munksjö's extensive know-how and experience in glass fiber tissue manufacturing in responding to the North American flooring market needs. This investment will provide us additional capacity and allow us to better serve our customers in this region from a local site with high quality and cost competitive glass fiber tissue materials,“ adds Pekka Helynranta, Vice President, Glass Fiber Tissue business.
For more information, please contact:
Pekka Helynranta, Vice President, Glass Fiber Tissue business, +358 10 888 2606 / +358 50 571 0458, firstname.lastname@example.org
Johan Lindh, Vice President, Group Communications and Investor Relations, +358 10 888 4994, email@example.com
Ahlstrom-Munksjö in brief
Ahlstrom-Munksjö is a global leader in fiber-based materials, supplying innovative and sustainable solutions to its customers. Our mission is to expand the role of fiber-based solutions for sustainable everyday life. Our offering includes filter materials, release liners, food and beverage processing materials, decor papers, abrasive and tape backings, electrotechnical paper, glass fiber materials, medical fiber materials, diagnostics and energy storage solutions, as well as a range of specialty papers for industrial and consumer end-uses. Our annual net sales is about EUR 2.7 billion and we employ some 7,800 people. Read more at www.ahlstrom-munksjo.com