29.4.2020, 8.30 (EEST)
During April, Loudspring Oyj's subsidiary Eagle Filters Oy has explored the possibilities of starting the manufacture of high-quality respirators in Finland. Loudspring owns 80% of Eagle Filters.
Based on the study, Eagle Filters has decided to start manufacturing high-quality half-mask type FFP2 and FFP3 class respirators. The respirators are manufactured from European market leader's top-quality materials, which enable FFP2 and FFP3 respirators in accordance with standard EN149.
The exponential spread of COVID-19 virus around the world has created a strong demand for personal protective equipment and in particular for FFP2 and FFP3 class respirators, which are the highest quality respirators designed to protect the wearer from infections.
Eagle Filters has been in the filter market for 25 years and its main products are high quality HEPA class air intake filters for gas turbines and engines and its customers are leading energy companies on all continents. Eagle Filters has developed its industrial filters in co-operation with VTT, and during ongoing pandemic, Eagle Filters has lent its filter testing equipment for use by the authorities to study the possibility to reuse respirators.
Eagle Filters has built a supply chain that enables Eagle Filters to produce approximately 30,000 half-mask type high-quality respirators per day in Finland when production starts. Production is expected to start by mid-June and production capacity can be doubled in month if necessary.
Jarkko Joki-Tokola, CEO, Loudspring: "The market situation is now distorted and we believe that there is room in the market for a domestic manufacturer that can supply quality products at a reasonable price."
The production capacity under construction at Eagle Filters is a significant addition to the domestic production of high-end respirators. There is a risk of delay in starting and scaling production if the delivery of production equipment is delayed, and, the new product has to pass the required tests to start sales. In the current market situation, the certification of products in an authorized laboratory may take longer than the start of production.
This information is such that Loudspring Oyj is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 08.30 EEST on 29 April 2020.
Loudspring in brief
Loudspring is an investment company focused on saving natural resources. We own and operate Nordic growth businesses that are fighting climate change and making a big environmental impact. We have a diversified business portfolio with technologies that save energy, water and materials in industry, real estate and in everyday life.
The company group is listed on First North Growth Market Finland under the ticker LOUD and on First North Growth Market Stockholm under the ticker LOUDS.
CFO, Loudspring Oyj,
Chairman of The Board, Eagle Filters Oy
Tel. +358 50 581 0583, email@example.com
CEO, Eagle Filters Oy
+358 40 901 1340
Erik Penser Bank AB, Certified Adviser. Tel. +46 8 463 83 00, firstname.lastname@example.org
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