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31st July 2019, Vantaa

Exel expands in Austria

The Kapfenberg operation makes special pultruded profiles for the electrical and mechanical industries. © Exel Composites

The Kapfenberg operation makes special pultruded profiles for the electrical and mechanical industries. © Exel Composites

Exel Composites, which has just reported a sales increase of 14.5% to EUR 53.6 million for the first six months of 2019, is to build a new EUR 7 million manufacturing plant at its existing site in Kapfenberg, Austria.

The Kapfenberg operation makes special pultruded profiles for the electrical and mechanical industries, as well as for railways and the paper industry based on the company’s internally developed pultrusion, pull-winding, co-winding and continuous lamination technologies

“The capacity of the old Kapfenberg facility has for some time already limited further growth for Exel in Central Europe,” said Riku Kytömäki, president and CEO of Exel, which is headquartered in Vaanta, Finland. “The new facility will enable a considerable increase in our production capacity and improve our ability to serve customers, especially in the industrial applications customer segment.

The construction of the new facility is expected to be completed in the second half of 2020.

Exel initially communicated its intention to expand operations in Austria in February 2015 but the project was put on hold in 2016 due to a weaker market situation at the time.

www.exelcomposites.com

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