Belgian multinational Recticel has opened a new production facility for polyurethane foam insulation panels in Mäntsälä, Southern Finland. The EUR 26 million greenfield investment is part of Recticel’s growth strategy targeting Northern Europe.
According to Recticel Insulation, the factory employs 34 people and its initial annual production capacity is 500,000 cubic metres, which can be increased considerably in the future.
The official opening ceremony on 7.5.2019 was attended by Recticel Group’s CEO Olivier Chapelle and Arnaud Duvielguerbigny, Secretary General of the insulation industry association PU Europe as well as representatives from the Finnish parliament.
“Finland is a safe country for foreign investments and has a great geographic location for doing business in the wider region. It offers easy access to Scandinavia as well as the Baltic countries and the St Petersburg region. Finland also has an attractive insulation market and a competent labor force,” says Ralf Becker, Group General Manager of Recticel’s Insulation Division.
Recticel expects growing demand for its industrial grade rigid polyurethane foam panels in the coming years due to higher insulation standards and regulations for buildings. The most common materials currently used for building insulation in Finland are Expanded Polystyrene (EPS) and mineral wool. The foam panels produced in the new factory are suitable for building contractors and DIY builders.
Over the past three years, Invest in Finland has played an active role in supporting Recticel’s investment decision, presenting different location options and providing advice on investment incentives and the permitting procedure for the construction of the new facility. It has also networked Recticel with different construction companies, consultants and public sector actors in Finland.
“We are excited about Recticel’s decision to invest in a state-of-the-art production facility in Finland and pleased to have assisted the company in this process,” says Helvi Väisänen, Senior Advisor, Business Finland, Invest in Finland.
“Finland’s location between the East and West, its stable economy and the lowest corporate tax rate in the Nordics offer a great setting for new business development in the Nordics and Baltics. We welcome investors to explore the many opportunities in Finland that will empower them to grow and prosper. Recticel’s new facility demonstrates what Finland has to offer in terms of high-quality manufacturing and as a strategic location for the growing market in Northern Europe, the Baltics and the St. Petersburg area.”
Recticel Insulation is part of the listed Recticel Group, a leading European market player for polyurethane solutions. Active in the furniture, automotive and construction industries, the Group employs around 8 400 people in 28 countries across the world.
Business Finland is the Finnish Innovation funding, trade, investment and travel promotion organization, head quartered in Helsinki. Business Finland is fully owned by the Finnish Government. Business Finland employs 600 experts in 40 offices globally and in 20 regional offices around Finland. Business Finland is part of the Team Finland network.
Invest in Finland is the official investment promotion agency for Finland helping foreign investors to find the right business opportunities in Finland.
Sami Kivistö, Commercial Director, Nordics Recticel Insulation
email: kivisto.sami (at) recticel.com
tel. +358 40 752 1457
Helvi Väisänen, Senior Advisor
email: helvi.vaisanen (at) businessfinland.fi
tel +358 40 3433 295
Maarit Klein, Manager, International Marketing and Communications
email: maarit.klein (at) businessfinland.fi
tel. +358 40 775 2305