In the third quarter of 2015, Suominen’s net sales grew by 11% from the comparison period to €114.9 million ($126.6 million). Calculated without the effect of exchange rates, net sales remained approximately on the same level as in the corresponding period, since the strengthening of the U.S. dollar compared to euro, Suominen’s reporting currency, increased the third quarter net sales by approximately €11 million ($12.1 million). Suominen has two business areas, Convenience and Care. Net sales of the Convenience business area in July-September was €107.5 million ($118.4 million), up from €94.4 million ($104 million), and net sales of the Care business area fell to €7.5 million ($8.3 million) from €8.9 million ($9.8 million). The Convenience business area supplies nonwovens as roll goods for wiping products and travel and catering applications. The Care business area manufactures nonwovens for hygiene products and medical applications.
 
President & CEO Nina Kopola comments: “In the euro area, the consumer confidence index decreased slightly in the third quarter but was still on a significantly higher level than at the beginning of the year. In the United States, the consumer confidence index increased somewhat. North America and Europe are Suominen’s largest market areas.
 
“In September, we decided to extend our growth investment program to approximately €60 million due to the promising growth prospects in nonwovens with higher added value. Earlier, we had estimated that we will spend €30–50 million in growth investments during the strategic period of 2015–2017. At the same occasion, we stated that the total value of our investment in a new wetlaid line at the Bethune plant in SC, U.S., including both equipment and facilities, will be close to €50 million. The new production line will be tailor-made, based on our unique nonwovens technology expertise, enabling us to supply our customers with exclusive, best-in-class nonwoven products for wiping, medical and hygiene applications. The investment is in line with our strategic intent to achieve both product leadership in our industry and a net sales growth rate that exceeds the industry average. Moreover, the other projects in our growth investment program are progressing as planned and will be completed by the end of the year.”