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Concert to build new Airlaid production facility
13
Aug '08
Concert Industries Corp is pleased to announce an investment of €50 million (Cdn $80 million) to expand an existing facility located in Falkenhagen, Germany. The expansion will increase Concert's overall annual production capacity by 30%, and will result in Concert being the global leader in the highly specialized nonwoven airlaid product segment. Construction will commence immediately and commercial production is expected to begin in September 2009.

The expansion will add approximately 100 jobs to the existing workforce at Concert's Falkenhagen facility.

"Demand for Concert Industries specialty products is primarily driven by the global feminine hygiene market, which continues to be supported by favorable demographics and expanding consumer interest. We expect this market to continue growing at a rapid pace into the foreseeable future”, said Pierre McNeil, President and Chief Executive Officer of Concert Industries.

“This expansion will help us meet the existing and future growing demand of our customers in Europe and Asia, and will also enable us to better serve our customers in North America from our production facility located in Gatineau, Quebec. Concert's North American business has also been experiencing strong growth and market share gains. This expansion enabled Concert to secure a multi-year contract with an international customer, securing the future of our German and Canadian facilities.”

Concert Industries Corp specializes in the production of nonwoven airlaid fabrics used in a wide range of consumer products, including feminine hygiene, home care, food pad and baby wipe products. The company is headquartered in Gatineau, Quebec and is wholly owned by Tricap Management Ltd., a private equity fund managed by Brookfield Asset Management Inc.

Concert Industries Corp

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