Austrias Kronospan to Build a New EUR 55 Million Plant in Poland

Austrias wood-based panel producer, Kronospan, has announced it would invest PLN 220 million (EUR 55 million) in the construction of a new plant in Poland, which will produce laminated panels for the furniture industry and will open 300 jobs. The location of the new plant is yet to be disclosed.

Estimated output at the new plant will be 15 million laminated panels a year, while value of production will reach PLN 400 million (EUR 100 million).

This is far from the companys first investment in the country. Since 1998 to date, Kronospan has infused USD 1 billion in construction and rehabilitation of Poland-based plants. A new PLN 500 million modernisation initiative will concern a factory in Szczecinek, producing manufacturing chipboards.

In 2005, the companys revenues amounted to PLN 3 billion.