Inside information: Partnera's subsidiary Foamit Group doubles the production of its small foam glass aggregates in Finland
Partnera Corporation
Company release, Inside information
10 December 2024 at 12:45 EET
Inside information: Partnera's subsidiary Foamit Group doubles the production of its small foam glass aggregates in Finland
Partnera will invest approximately EUR 2.2 million in new technology and equipment solutions for Foamit Group's production plant in Forssa. With this investment, Foamit Group responds to the growing demand for small foam glass aggregates in the domestic construction market. The production capacity of small aggregates will increase to more than 100,000 cubic metres, and the positive impact on profit is estimated to be significant. Currently, the production capacity of small foam glass aggregates is approximately 10 per cent of Foamit Group's total foam glass production capacity.
Investing in the new production technology of the Forssa production plant together with the production process developed by Foamit enables more flexible production of foam glass aggregates to reach new applications in the construction industry. The investment is expected to be completed and production to start at the end of 2025.
The investment to double the production of small foam glass aggregates responds promisingly to the increased demand and strengthens Foamit's position in the construction market. In addition, the extra capacity opens up opportunities to offer foam glass solutions for new applications, such as the upper and intermediate floors of buildings.
Foamit's new production technology enables the utilisation of the versatile and flexible capacity of the Forssa plant, as the foam glass production capacity can be efficiently adapted to different foam glass needs in the future.
"Foam glass is an environmentally friendly and lightweight circular economy product that is manufactured from purified recycled glass. Especially in the Finnish market, we can see growing demand for small foam glass aggregates. It is great that as the flexibility of our production capacity increases, we will be able to better respond to the growing demand for foam glass in our current and new markets. We look forward to offering foam glass even more flexibly to an even wider customer base”, says Valtteri Raunio, interim CEO of Foamit Group.
Foamit Group aims to invest strongly in its foam glass production in Finland, Sweden and Norway and to reach a revenue of EUR 100 million and an EBITDA level of over 20% by the end of 2028. Foamit Group is also investing in capacity and environmentally friendly technology at its Norwegian production plant. The investment programme will double the capacity of the plant and make production almost emission-free.
"Partnera's strategic goal is to do profitable business by building a more sustainable future and achieving measurable, positive impact on the environment and society. We see many new opportunities for business expansion in Foamit Group's operations and believe that the investment in the Forssa plant will support Foamit Group's growth and profitability, thereby strengthening Partnera's value creation. This investment supports our growth strategy and is the first production investment under Foamit Group's new strategy”, says Jussi Lappalainen, interim CEO of Partnera Corporation.
Further information
Partnera Corporation
Jussi Lappalainen, interim CEO
tel. +358 40 530 6446
jussi.lappalainen@partnera.fi
Certified adviser
Augment Partners AB
tel: +46 8 604 22 55
e-mail: info@augment.se
PARTNERA IN BRIEF
Partnera is an international business group that promotes sustainable development with its operations through the companies it owns. Partnera Corporation’s shares are listed on Nasdaq First North Growth Market Finland. www.partnera.fi