The company said that shareholders had approved the long-term project recently and that it would "dramatically" increase SmartPly capacity to meet growing current and future demand.
The expansion will see the installation of an additional ContiRoll continuous press at the factory, plus new forming and finishing lines. This will boost Waterford’s capacity from the current 350,000m3 to 500,000m3.
"The investment, which has been three years in development, has customer needs at the forefront," said the company. "It will enable SmartPly to enhance its product portfolio through innovation, and provide market-leading, value added and specialty solutions."
