With demand increasing in Central Europe for Exel and a number of new business opportunities, the company has decided to expand operations.
The company has announced to the stock market it will invest to expand its operations in Austria to meet the increased customer demand. By this investment Exel Composites will be in a better position to serve its Central and Southern European customers. The target is to more than double the production capacity in Austria.
The total cost estimate of the project is €8 million with the expansion project to get underway in the first half of this year and is estimated to be completed by the second half of 2016.
In December 2014 Exel Composites announced the expansion of its Nanjing unit in China. The Nanjing project has commenced and is estimated to be completed during the first half of 2016.