Пресс-релиз о строительстве завода Paroc

31/08/2007

Paroc Signs a Letter of Intent to Purchase a Plot of Land in Russia

The Paroc Group, one of the leading manufacturers of stone wool insulation, is planning to expand into Eastern Europe. The positive market situation and the increasingly stringent energy efficiency regulations favour the investment plan relating to a new factory in Russia.

The company has been looking for a plot of land near St. Petersburg in Russia for some time now and today at noon, it signed a letter of intent for a plot of land in Chudovo located in the Novgorod region about 100 km from St. Petersburg airport. The privately owned plot is 60 hectares in size.

One production line will be built at the new factory and there will also be an option to expand capacity. Paroc currently has sales offices in St. Petersburg and Moscow.

 Väinö Tuomisalo, President and CEO of Paroc Group, thinks that opportunities for the company  in terms of new investments are good: "The current market situation is favourable and measures being taken to slow down climate change by improving energy efficiency are also having a significant impact on the insulation industry. Demand in Eastern Europe is growing strongly and this trend is expected to continue for many years to come."

Evaluations of the suitability of the plot for Paroc's purposes have started and are expected to be completed in the autumn. Once these evaluations are complete, a final decision will be made regarding the investment. According to Väinö Tuomisalo, "Finding a plot of land has been a long process and we are happy to have achieved this significant milestone."

The consultant company Investorium and the design-build and project management contractor Quattrogemini have also been involved in the process.

For more information, please contact:

Väinö Tuomisalo, President & CEO, Paroc Group, tel. +358 (0)400 651 452

Katiye Vuorela, Vice-President, Communications, Paroc Group, tel. +358 (0)204 55 4932, +358 (0)40 587 4140

Information for the editor:

In terms of the issue of climate, we should also look into how much of the energy that is currently being used could be saved through more efficient use. Buildings are the biggest gluttons for energy in Europe - they consume over 40% of the total volume of energy - and that is why they also present significant potential for energy saving. The energy consumed in buildings could be halved by improving energy efficiency. Energy efficiency comes from good thermal insulation and making use of the heat that accumulates in a building. 

About Paroc

Paroc Group is one of the leading manufacturers of mineral wool insulation products and solutions in Europe, with over 70 years' experience in developing, manufacturing and distributing stone wool products. PAROC® products

include building insulation, technical insulation, marine insulation, structural stone wool sandwich panels and acoustics products. The company has operations in 13 countries in Europe, with production facilities in Finland, Sweden, Lithuania and Poland. Paroc Group is owned by Arcapita Bank B.S.C.© and other investors, with a minority shareholding owned by Paroc's employees. Net sales in 2006 amounted to EUR 403 million and the average number of employees throughout the year was 2,172.

www.paroc.fi