Exel Composites to expand its operations in Austria

EXEL COMPOSITES PLC     STOCK EXCHANGE RELEASE                   13.2.2015 at 8.45 a.m.         

Exel Composites to expand its operations in Austria

Exel Composites released its new growth strategy in November 2014. Exel Composites’ business is supported by favorable trends driving market growth, especially in North Asia, North America and Europe.

In Central Europe, Exel Composites’ main market area, demand has increased and a number of new business opportunities have been identified. Exel Composites will invest to expand its operations in Austria to meet the increased customer demand. By this investment Exel Composites will be in a better position to serve its Central and Southern European customers. The target is to more than double the production capacity in Austria. 

The total cost estimate of the project is EUR 8 million. 

The expansion project will be launched in the first half of 2015 and it is estimated to be completed during the second half of 2016.

In December 2014 Exel Composites announced the expansion of its Nanjing unit in China. The Nanjing project has commenced and is estimated to be completed during the first half of 2016.

   

Vantaa, 13 February 2015

   

EXEL COMPOSITES PLC

Riku Kytömäki
President and CEO              

  

 

Further information
Riku Kytömäki, President and CEO, tel. +358 50 511 8288, or email riku.kytomaki@exelcomposites.com
Ilkka Silvanto, CFO and Administrative Director, tel. +358 50 598 9553, or email ilkka.silvanto@exelcomposites.com

Distribution
NASDAQ OMX Helsinki Ltd.
Main news media
www.exelcomposites.com

   

Exel Composites in brief 
Exel Composites (www.exelcomposites.com) is a leading composite technology company that designs, manufactures and markets composite products and solutions for demanding applications. Exel Composites provides superior customer experience through continuous innovation, world-class operations and long-term partnerships.

The core of the operations is based on own, internally developed composite technology, product range based on it and strong market position in selected segments with a strong quality and brand image. Profitable growth is pursued by a relentless search for new applications and development in co-operation with customers. The personnel’s expertise and high level of technology play a major role in Exel Composites’ operations.

Exel Composites Plc share is listed in NASDAQ OMX Helsinki Ltd.

About Us

Exel Composites is the world’s leading composite technology company that engineers and manufactures composite products and solutions to an extensive range of demanding industrial applications. The core of the business is based on the employees’ high level of expertise and own, internally developed composite technologies, which have been perfected over decades with a steady focus on innovation. With nine manufacturing plants across Europe, Asia, and North America, and a global sales network, Exel Composites is firmly driven by superior customer experience and world-class operations. Headquartered in Finland, Exel Composites employs approximately 650 people globally. The company’s shares are listed on the Nasdaq Helsinki exchange. www.exelcomposites.com

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