Kareline Oy Ltd, a Finnish manufacturer of composite materials, has strengthened its resources with a second round of financing in order to internationalise. The follow-on investment was made by Mantsinen Group Ltd Oys CEO Ari Hakkarainen, and capital investors Finnish Industry Investment Ltd and Sentica Partners Oy, all previous shareholders and investors. New investors included Joensuun Kauppa ja Kone Oy. The company also has five small private investors.
Kareline manufactures unique thermoplastic composites, reinforced with natural fibres, by reinforcing selected thermoplastics with wood-based pulp fibres. The durable and ecofriendly composite materials are used, for instance, in indoor and outdoor furniture, décor components, machinery and equipment parts, tools, enclosures and household goods. They have wide potential, especially in the EU. The companys latest references are Aurelia loudspeakers and Sarvia chopsticks.
Many sectors are interested in our products. The time is obviously ripe for products that are more ecofriendly, comments Karelines CEO Harri Välimäki.
Karelines natural-fibre composites offer a more ecofriendly alternative to conventional thermoplastics. Kareline supplements our clean tech portfolio very well, says FII´s Investment Manager Leila Ylikahri.
More Information:
– Managing Director Harri Välimäki, Kareline Oy Ltd
mobile 041 468 9672, harri.valimaki (at) kareline.fi
– Investment Manager Leila Ylikahri, Finnish Industry Investment Ltd
mobile 050 357 7053, leila.ylikahri (at) teollisuussijoitus.fi