Hedehusene, Denmark, 2015-11-19 17:12 CET (GLOBE NEWSWIRE) --
Release no. 11 – 2015 To Nasdaq Copenhagen
ROCKWOOL International A/S Hovedgaden 584, Entrance C DK�2640 Hedehusene Phone: +45 4656 0300 www.rockwool.com Danish CVR no: 54879415
19 November 2015
The ROCKWOOL Group invests in new ceiling panel factory in the US
At today’s board meeting, the Board of Directors approved the plan to build the Group’s first ROCKFON acoustic ceiling panel manufacturing facility in the U.S. The facility will be located in connection with the Group’s existing stone wool factory in Mississippi close to Memphis. The new facility represents an initial investment of approximately USD 40 million (EUR 36 million) and is expected to employ around 100 people.
“This investment and new facility will be a cornerstone in our continued expansion into the North American ceiling market,” says CEO Jens Birgersson. “There is a strong interest from customers all over the continent and this new plant is a testimony to our long-term commitment to meet the growing demand for ROCKFON stone wool acoustic ceiling products in North America.”
The ROCKFON ceiling business has been instrumental in driving the ROCKWOOL Group’s successful development of its non-insulation activities gathered in the Systems business. Sales within Systems reached EUR 500 million in 2014, up 27.2% compared to the year before. The strong growth was primarily stemming from growing ceiling sales in the US.
The ROCKFON business has been operating in North America since January 2013. With the acquisition of Chicago Metallic in October 2013, the company provides customers with a complete ceiling system. Its product offering combines ROCKFON stone wool and specialty metal ceiling panels with Chicago Metallic suspension systems. Chicago Metallic suspension systems are also manufactured in Belgium, Malaysia and China. The ROCKFON business’ other ceiling panel plants are located in the Netherlands, Poland, France and Russia.
Construction will begin in early 2016, with production expected to begin mid-2017. The site allows room for future expansion. The Group is working closely with the State of Mississippi, Marshall County, and local authorities to ensure that this project is designed and constructed to meet or exceed building code and environmental standards. Once completed, the new ROCKFON facility is anticipated to span 12,000 square meters.
Further information: Jens Birgersson CEO ROCKWOOL International A/S +45 46 56 03 00
