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.