Opening of new MSI Facility in Houston, US
15 May 2012
FILTRONA PLC
A leading international supplier of speciality plastic, fibre and foam products
OPENING OF NEW MSI FACILITY IN HOUSTON, US
Filtrona plc ("Filtrona" or "the Company") today announces the opening of the new office, plant and warehouse for its MSI Oilfield Products ("MSI") business in Houston, US.
Acquired by Filtrona in 1994 and part of the Company's Protection & Finishing Products division, MSI is the market leader in Oil Country Tubular Goods thread protectors and pipe protection products, manufacturing the broadest range with the highest quality standards in the industry. Headquartered in Houston, with over 30 years in the business and more than 200 employees, MSI services the world through additional locations in Nisku, Canada; Veracruz, Mexico; Aberdeen, UK and its wide distributor network.
The c. 136,000 square-foot facility features larger injection press capacity machines and high cavitation mould bases, with additional tooling capabilities increasing production rates. The additions support a new "best in market" product line, with the "MaxX" range complying with the thread protector standard recently implemented by the American Petroleum Institute ("API") (API Spec 5CT. Specification for Casing and Tubing, Ninth Edition). Around 25 additional employees have and will be hired as a result of this expansion.
Commenting on today's announcement, Colin Day, Chief Executive, said:
"The investment in this state-of-the-art facility doubles MSI's current production and warehousing capability and further enhances its ability to provide the best quality products and a first class service. Not only does this underpin MSI's future growth potential, it also reinforces our long-term commitment to our customers and to the energy industry worldwide."
Enquiries
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Filtrona plc Joanna Speed, Corporate Affairs Director Tel: 01908 359100 |
Buchanan Richard Oldworth Jeremy Garcia Catherine Breen Tel: 020 7466 5000 |
About Filtrona plc
Filtrona plc ("Filtrona" or "the Company") is a FTSE 250 company and a leading international supplier of speciality plastic, fibre and foam products. Through its four operating divisions, Filtrona focuses on the light manufacture and distribution of high volume, essential components which serve customers in a wide variety of end-markets and geographies.
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Protection & Finishing Products |
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A global market leading supplier of protection and finishing products, manufacturing and distributing plastic injection moulded, vinyl dip moulded, and metal items as well as pressure sensitive tapes. The division has 60 operating units in 21 countries serving a very broad industrial base of customers with a rapid supply of primarily plastic products for protection and finishing applications in industries such as hydraulics, pneumatics, oil and gas, electrical controls, point of purchase and tubular metal products.
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Porous Technologies |
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A global market leading developer and manufacturer of custom fluid handling components, engineered from a portfolio of technologies that includes bonded fibre, polyurethane foam, and porous plastic. Representing leading innovations used in healthcare, consumer and industrial applications, its enabling components are found in a wide range of products from medical diagnostics tests to advanced wound care pads, inkjet printer cartridges, writing instruments and air fresheners. Customers in 56 countries are served from five manufacturing facilities with research and development centres supporting the division globally.
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Coated & Security Products |
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The global market leading producer of high quality self-adhesive tear tape and a growing supplier of labels, products and technologies for the consumer packaging, identity and valuable documents markets. Customers in over 100 countries are served from facilities operating in six countries. The division also includes plastic profile extrusion activities in The Netherlands. |
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Filter Products |
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The only global independent cigarette filter supplier. The nine worldwide locations, including a UK-based research facility and three regional development centres provide a flexible infrastructure strategically positioned to serve the tobacco industry. The division supplies a wide range of value adding high quality innovative filters, packaging solutions to the roll your own sector and analytical laboratory services for ingredient measurement for the industry.
Headquartered in the United Kingdom, Filtrona's global network extends to 28 countries and includes c. 4,000 employees, 33 principal manufacturing facilities, 63 sales & distribution operations and 5 research & development centres.
The Company's strategy - called Vision 2015 - seeks to maximise shareholder value through the delivery of balanced profitable growth in both its existing and future opportunity markets and technologies, with the objective of delivering at least mid single-digit like-for-like revenue growth and double-digit adjusted EPS growth at constant exchange. The strategy also calls for strong conversion of profit into cash and a progressive dividend policy. The Company looks to complement this balanced organic growth with value-adding acquisitions.
For further information, please visit www.filtrona.com |
This information is provided by RNS
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