Recticel, the Belgian multinational and the European leader in polyurethane applications, is just about to start its state-of-the-art manufacturing facility in Mäntsälä, Finland. The official opening will be early 2019.
“We wanted our manufacturing in a country that belongs to the European Union. Our choice was Finland because of its central location, where we can easily reach Sweden, Norway, the Baltic Countries and Russia. Finland is a safe country for foreign investments“, says Ralf Becker, Director of the Insulation Division.
“Each Nordic Country is too small to make the manufacturing facility profitable. But as a group they are a very interesting market.“
The investment in this new greenfield production site is 25€ million with an initial production capacity of 500 000 m3 /year. According to Becker, it is possible to increase capacity considerably. Industrial grade rigid polyurethane foam (“PIR”) panels used for thermal insulation are not yet widely used in Finland. It is anticipated that Recticel’s product will replace EPS and mineral wool insulation currently used.
Current Recticel manufacturing sites are in Belgium, France, UK, and Slovenia. Previously, the company was exporting insulation material to Finland from Belgium. Becker commented, that for long-term trade, the distance to the Nordic market was too long and too expensive. It proved more profitable to build a facility in Finland.
“The location in southern Finland will allow us to serve the growing demand in the Nordic region (Finland, Sweden, Norway, Denmark) and the Baltic Countries for high performance thermal insulation materials. –Business Finland, Invest in Finland was offering us big support in location search, investment aid investigation and other ad hoc questions on the ways to do business in Finland“, says Yulia Boytsova, Business Development Manager at Recticel.
“We are excited about Recticel’s decision to invest in a state of the art production facility in Finland. This confirms the growing trend of industrial production returning to Finland. Our geographical location between east and west, stable economy and the lowest corporate tax rate in the Nordics offers a great setting for new business development. We welcome investors to explore opportunities in Finland that will empower them to grow and prosper, just as Recticel does“, commented Helvi Väisänen, Senior Advisor, Invest in Finland.
Senior Advisor Bioeconomy
Phone: +358 40 3433 295
Recticel Insulation is part of the Recticel Group, which operates in 28 countries and employs about 8000 people. As a group, Recticel diversifies its activities over four selected business lines; automotive, bedding, flexible foams, and insulation. 93% of its sales is realized in Europe. Recticel is listed on Euronext.