Ahlstrom, a global leader in high performance fiber-based materials, announced 6 September 2006 that it will invest an additional EUR 5 million (USD 6.3 million) in a new specialty glassfiber reinforc…
Ahlstrom, a global leader in high performance fiber-based materials, announced 6 September 2006 that it will invest an additional EUR 5 million (USD 6.3 million) in a new specialty glassfiber reinforcement plant in the USA. Ahlstrom announced in June that it would invest EUR 5.2 million in a specialty glassfiber reinforcement plant in South Carolina, USA. With the additional capital allocated to the investment as of 6 September 2006, the total value of the investment will be approximately EUR 10.2 million (USD 12.7 million). With the additional investment, Ahlstrom increases the production capacity of the plant, ensuring it will be able to serve the fast growing specialty reinforcement markets, particularly in wind energy, marine and transportation industries. The investment will consist of new machinery and appropriate infrastructure. The new Bishopville plant is estimated to be operational in early 2007 and it will mainly serve North American customers and other dollar-based markets. “Ahlstrom has strengthened its global market position lately as a specialty reinforcement supplier, especially for the wind energy, marine and transportation industries. These markets are growing faster than the composites markets on average. This additional investment further supports Ahlstrom“s global growth strategy and enables synergies within the company”, says Jukka Moisio, President and CEO of Ahlstrom Corporation. “We are pleased to see that our current and potential customers have been so positive in their approach to Ahlstrom“s Glass Nonwovens business entering this new geographic area. Being able to serve global customers worldwide is vital to our success and this additional investment further strengthens our position, together with the on-going investment, already announced, in Tver, Russia. Next year Ahlstrom will have glass nonwovens production in Europe, in the USA and in Russia. In addition, the glass nonwovens markets in Asia offer attractive growth opportunities for Ahlstrom”, saidTommi Bjrnman, Senior Vice President, Glass Nonwovens. The Specialty Reinforcements product line is a part of Ahlstrom“s Glass Nonwovens business area, which belongs to the company“s FiberComposites segment.