Recticel Insulation Inaugurate New Finnish Unit
2019-05-10    [Source:Plasticsnews Europe]
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New facility to make polyurethane (PU) rigid boards and panels for the construction industry

Recticel Insulation Ltd officially opened its new production unit 7 April in Mäntsälä, 62 kliometres north of the capital Helsinki.

The plant began production in Q4 2018 as scheduled, but according to Regional Commercial Director Sami Kivistö, the ceremony was put off due to VIPs' diaries from the original date in March.

Costing €26m with a total production capacity of 500,000 cubic metres a year, the new facility will make polyurethane (PU) rigid boards and panels for the construction industry using a variety of feedstock suppliers from Finland and central Europe.

"In the short term [we] will have Finland as the main market, but eventually we see 60% going to export with Sweden also showing the greatest potential," said Kivistö, adding that Mäntsälä will support the company's growth in the north of Europe.

While currently Recticel lnsulation employs 34, to aid regional sales for its export markets in the Nordics and Baltics, Kivistö has expanded his salesforce by two in Sweden and another two in Finland plus one for the Baltic countries. "We will need to leverage sales in Russia," he says pragmatically.

Recticel has another separate factory in Finland at Kouvola, which makes flexible foam products for the furniture sector. Although both are 100%-owned by Recticel Group Belgium, they are in different divisions hence act independently.

The group is Europe's leading PU applications leader and operates in 28 countries worldwide and in addition to its two in Finland also has another two flexible foam units in Sweden and one in Norway to supply northern Europe.

2018 turnover was €1,448m leaving a bottom line of nearly €29m - an improvement of 20.6% on 2017's result - for the Brussels-listed company, which paid a dividend of €0.24 per share representing a 9.1% rise. It announced that 2019 to be 'above the level of 2018'.

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