Swedish-based Molnlycke Health Care Invests $7 Million To Expand Its Rynel Plant In Wiscasset, Maine
Area Development Online News Desk (08/05/2013)
Swedish-based Molnlycke Health Care plans a $7 million expansion at its Rynel manufacturing facility in Wiscasset, Maine, which will add up to 30 jobs to its 70 member workforce, north of Portland. Rynel, which was purchased by the Swedish firm in 2010, is a developer and manufacturer of specialty hydrophilic polyurethane foam products.
“Mölnlycke Health Care’s business is expanding, both in the wound care and surgical business. The acquisition of Rynel is in line with our growth strategy. We want to continue the growth and innovation of our Advanced Wound Care business for the benefit of our customers. The acquisition of Rynel represents an important strategic milestone,” said CEO Pierre Guyot, when the firm was acquired.
As part of Mölnlycke, Rynel continues to be a premier manufacturer of specialty absorbent polyurethane foam products. As part of the purchase we have retained all of our employees including our management team, the parent company said.
“This is the kind of news that we like to see in the State of Maine: a large expansion of a good company that will add quality jobs for Maine residents,” said Gov. Paul R. LePage. “Stories like this only strengthen my resolve to make Maine a better place to do business and improve the lives of all Mainers through a thriving private sector. It’s a great example of what can happen when business and government work together.”
As an incentive the Town of Wiscasset’s Board of Selectmen has agreed to pursue a 20 year Tax Increment Financing deal on the company’s behalf.
This is Molnlycke’s second recent expansion in Maine. The company began constructing a new facility at Brunswick Landing earlier this year to manufacture wound care products, in which it intends to employ 45 people.