AVILON RECEIVES FIRST ORDERS - SELLS ENTIRE STOCK

NEO INDUSTRIAL PLC STOCK EXCHANGE RELEASE   25 JANUARY 2011 at 3.15 pm
 

AVILON RECEIVES FIRST ORDERS – SELLS ENTIRE STOCK 

Neo Industrial Plc’s Viscose fibers division, Avilon Ltd, has received its first viscose fiber orders. The entire stock of the Valkeakoski-based factory has been sold to thread and fabric manufacturers in Turkeyand Germany. The orders, delivered in the next few days, are worth a total of 2.7 million euros.

Avilon’s current annual capacity, an estimated 30,000 tonnes, encompasses one production line, producing some 2,500 tonnes of textile fiber a month. Now that Avilon has successfully started its viscose fiber production, the company will start also producing its special product, fire retardant fiber, with another production line during this February.

Avilon’s production plant was started on 3 January, 2011, and first bales of viscose fiber were produced on 14 January, 2011. 

Neo Industrial Plc
 

Markku E. Rentto
Managing Director

FURTHER INFORMATION:

Markku E. Rentto, Managing Director, Neo Industrial, tel. +358 207 209 191
Claus Carlsen, Director, Avilon, tel. +358 20 780 0502

Neo Industrial Plc's strategy is to invest mainly in industrial companies with similar synergic benefits. The aim of investments is with active ownership to develop the purchased companies and establish additional value. Returns are sought through both dividend flow and an increase in value. Neo Industrial's B shares are listed on the NASDAQ OMX Helsinki Stock Exchange.