Technical laminates and protective packaging maker Walki will come up with a production line at its Valkeakoski plant in Finland, to meet the rising demand for multilayer laminates in the construction sector.
The initiative comes in the wake of '20-20-20' target set by the European Union, which envisages an improvement of 20% in energy efficiency and thus, calls for energy-efficient housing. To meet such an objective, insulation becomes instrumental in keeping heating or cooling costs under check.
The new facility, set to begin operations during the first quarter of 2016, is expected to boost delivery reliability and cut lead times. It will also be capable of meeting the requirements of various sectors ranging from consumer packaging to pharmaceutical segment.
Walki Construction executive vice-president Kari Salminen said: "The production line will be unique on the market...There is also a huge need for renovating houses and buildings in Europe with better insulation and this will further drive the demand."
Besides, the construction business is poised for a recovery with the European economy picking up steam. As a result, the demand for insulation solutions for multilayer facings is also expected to rise.
Walki president and CEO Leif Frilund said: "With this investment, Walki strengthens its position as the premium supplier of multi-layer laminates globally. Further, this investment supports our strategy to strongly focus on the growing segments of energy saving laminates for building purposes and on value adding consumer packaging solutions."
The company produces technical laminates and protective packaging materials. With plants in Finland, Germany, the Netherlands, Poland, the UK, Russia and China with a workforce of about 900 people, the group has net sales of over €300m.