Midinvest, Industry Investment and private investors invest MEUR 4.6 in nonwoven fabric company

17.10.2008

Midinvest Management Oy, Finnish Industry Investment Ltd and private investors have made a total investment of MEUR 4.6 million in nonwoven fabric manufacturer Lacell Oy. The total financing of the project amounts to MEUR 18 million. Other finance providers are OKO Bank, Finnvera, Ilmarinen, Garantia, a TE-Centre and the Kouvula Region Federation of Municipalities. The municipality of Iitti and OKO Bank are financing the planned construction of a factory plant.

 

Established in 2005, Lacell is the only company in Finland manufacturing genuine nonwoven fabric with air-laid technology. Lacell will offer rolls of raw material to SMEs in Finland, the Baltic region, Russia and Central Europe. Lacell’s customers use the raw material to make hygiene products, wipes, covers, and packaging, filtering and hospital products.

 

Air-laid material is absorbent, soft, lint-free and cloth-like, and it also has good wet strength. It is manufactured from Finnish wood pulp using waterless dry-web technology, which is more environmentally friendly than plastic-based fibre materials.

Further information:

- Risto Tamminen, CEO, company founder, Lacell Oy.
Mobile +358 45 650 2642, risto.tamminen (at) pp4.inet.fi

 

- Pentti Kuvaja, Investment Director, partner, Midinvest Management Oy.
Mobile +358 40 736 7843, pentti.kuvaja (at) midinvest.fi, www.midinvest.fi

 

- Antti Kummu, Investment Director, Finnish Industry Investment Ltd.
Mobile +358 50 432 4486, industryinvestment.com, www.industryinvestment.com