RECTICEL stated that the construction progress of its new factory in Finland is proceeding as planned and is expected to begin production in the fourth quarter of 2018.
Rexel said that by 2019, the new plant will boost sales growth in Scandinavia, the Baltic countries and Russia.
The factory will produce polyurethane (PU) insulation boards. Last year, Rexel purchased about 40,000 square meters of land for this project. In addition, the company also signed an agreement to retain 46,000 square meters of neighboring land.
Previously, the company announced its 2017 financial results. The data shows that Rixel's total sales increased by 8.4%.