Governor Andy Beshear announced Monday a Finland-based glass fiber tissue producer plans to build a second facility in Madisonville with a $70 million investment expected to create 51 well-paying jobs.
Governor Beshear thanked Ahlstrom-Munksjö for this significant new commitment to Madisonville, Hopkins County and the commonwealth. He added the company’s current facility has long been an important part of the community, and its new operation is outstanding news for the region’s residents. He said as Kentucky builds a stronger post-pandemic economy, Ahlstrom-Munksjö’s commitment to create more than 50 high-quality jobs couldn’t be better timed. He went on to say this project promises a brighter future for families in the area and positions the company for even more success in the years ahead.
Ahlstrom-Munksjö leaders noted ongoing North American market growth as the primary driver for the project. They said the new facility will house a glass fiber tissue production line to make luxury vinyl tiles and vinyl sheet materials. Officials said the company’s current 133-employee facility in Madisonville produces filtration materials for automotive and industrial applications. Company leaders indicate customer deliveries from the new operation are expected to start in mid-2023.
Madisonville Mayor Kevin Cotton lauded the team effort making the new operations possible, while Hopkins County Judge-Executive Jack Whitfield said the investment highlights the need for cooperation between industry and local leadership to achieve a common goal. Madisonville-Hopkins County Economic Development President Ray Hagerman thanked the company for its commitment to the community.
According to the governor’s office, the new facility will create 51 full-time jobs across 10 years and pay an average hourly wage of $30 including benefits.
Ahlstrom-Munksjö, headquartered in Helsinki, Finland, was formed in April 2017 through the merger of Ahlstrom and Munksjö. Its products include decor paper, filter media, release liners, abrasive backings, nonwoven materials, electrotechnical paper, glass fiber materials, food packaging and labeling, tape, and medical fiber materials. The company has operations in Europe, North America, South America, and Asia and employs approximately 7,800 people across 45 plants globally. Prior to the merger, Ahlstrom had been located in Hopkins County since 1974.
