Press relase

Recticel Insulation plans a new expansion investment in the United Kingdom

Regulated information, Brussels, 08 March 2017 – 07:00 AM CET, 08.03.2017

Recticel announces that its Insulation division – a leading PIR insulation board manufacturer - plans to invest in additional production capacity in the United Kingdom, in order to enable further growth with its customers.

Recticel is pleased to announce that its Insulation division will increase by at least 50% its capacity in the United Kingdom. The additional capacity will be used to produce high performance rigid polyurethane foam (“PIR”) panels for thermal insulation for the construction sector. With this investment, Recticel will not only serve the growing demand for thermal insulation materials in the United Kingdom, but it will also accelerate the Group’s growth strategy in the insulation business.

Further growth is to be expected in the coming years because the structural demand for high performing polyurethane building insulation products will continue to increase as a result of stricter insulation standards and regulations, higher energy prices and the ever growing awareness of the need for more and better insulation.

The investment is expected to amount to at least €20 million, and start of production is planned in the 3rd quarter of 2018.

Olivier Chapelle (CEO): “This investment is consistent with the growth strategy of our Insulation business. It brings substantial additional production capacity to enable Recticel to continue to serve its customers in the United Kingdom and to grow with them.”

 

 

Financial calendar

First quarter 2017 trading update 26.04.2017 (before opening of the stock exchange)
Annual General Meeting 30.05.2017 (at 10.00 u CET)
First half-year 2017 results 31.08.2017 (before opening of the stock exchange)
Third quarter 2017 trading update 31.10.2017 (before opening of the stock exchange)

 

For additional information

RECTICEL - Olympiadenlaan 2, B-1140 Brussels (Evere)

Press: 
Mr Olivier Chapelle
Tel: +32 2 775 18 01
chapelle.olivier@recticel.com

Investor relations: 
Mr Michel De Smedt
Mobile: +32 479 91 11 38
desmedt.michel@recticel.com

 

Recticel in a nutshell

Recticel is a Belgian Group with a strong European dimension, but it also operates in the rest of the world. Recticel employs 7,925 people in 98 establishments in 28 countries.

Recticel contributes to daily comfort with foam filling for seats, mattresses and slat bases of top brands, insulation material, interior comfort for cars and an extensive range of other industrial and domestic applications.

Recticel is the Group behind well-known bedding brands (Beka®, Lattoflex®, Literie Bultex®, Schlaraffia®, Sembella®, Swissflex®, Superba®, Ubica®, etc.) and GELTEX® inside. Within the Insulation sub-segment high-quality thermal insulation products are marketed under the well-known brands Eurowall®, Powerroof®, Powerdeck®, Powerwall® and Xentro®. Technological progress and innovation have led to breakthrough at the biggest names in the Automotive industry thanks to Colo-Fast®, Colo-Sense® and Colo-Sense Lite®.

In 2016 Recticel achieved combined sales of EUR 1.35 billion (IFRS 11 consolidated sales: EUR 1.05 billion).

Recticel (Euronext: REC – Reuters: RECTt.BR – Bloomberg: REC:BB) is listed on Euronext in Brussels.