STEICO SE: Second Laminated Veneer Lumber line (LVL) produces first board. * Construction work more than nine weeks ahead of schedule * Increased production capacity meets with high demand The new line will double the production capacity for Laminated Veneer Lumber from a current total of around 80,000 cbm/year to around 160,000 cbm/year. STEICO took its first line for Laminated Veneer Lumber into operation at the start of 2016. As a result of the high demand for this highly resilient engineered wood product, STEICO already resolved to double capacity in August 2016. The second line is also being installed in the facility in Czarna Woda (PL). Thanks to forward-looking planning when building the first line the total capital expenditure for the second line is around EUR 45 million, around EUR 15 million lower than for the construction of the first line. This should also benefit its future profitability. The line is being financed via the existing syndicated loan agreement. Installing the second production line will also allow economies of scale to be realised in production, for example via longer product series and correspondingly shorter refit times. Using left over wood from LVL production will also benefit the production of wood fibre insulation materials at the same location. Last but not least, STEICO expects that the use of bark and production residues will allow the majority of production heat and steam to be produced in the company's two own biomass power plants. In addition, STEICO is exempt from Polish income tax for ten years due to its use of a special economic zone in Czarna Woda. Broad range of uses, high demand By expanding its production capacity, STEICO is laying the foundations for further high-margin growth and is reinforcing its position as a system provider for innovative wood construction solutions. The full press release can be downloaded from www.steico.com/ir.
STEICO is positioned as a system provider for ecological residential construction and is the only manufacturer in the industry to offer an integrated wooden construction system in which insulation material and construction components supplement each other. These include flexible and stable wood fiber insulation panels, composite thermal insulation systems, insulation panels with a reinforcing effect, as well as cavity wall insulation made of wood fibers and cellulose. The construction elements comprise I-joists and Laminated Veneer Lumber. In addition, the STEICO group also produces hardboards (natural fibre boards) and operates in the wood trade. The Munich-based company's products are used in new construction and when renovating roofs, walls, ceilings, floors and facades. STEICO's products allow the construction of future-proof, healthy buildings with a particularly high quality of living and a healthy atmosphere. STEICO's products offer reliable protection against cold, heat and also noise, and they permanently improve the building's energy efficiency. Contact: End of Media Release Issuer: STEICO SE Key word(s): Industry
13.09.2017 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | STEICO SE |
Otto-Lilienthal-Ring 30 | |
85622 Feldkirchen | |
Germany | |
Phone: | +49 - (0)89 - 99 15 51 - 0 |
Fax: | +49 - (0)89 - 99 15 51 - 99 |
E-mail: | info@steico.com |
Internet: | http://www.steico.com |
ISIN: | DE000A0LR936 |
WKN: | A0LR93 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange; Open Market (Basic Board) in Frankfurt |
End of News | DGAP Media |
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