Sep 10, 2006. /Lesprom Network/. Pfleiderer AG, officially opened the most modern particleboard plant in Russia. The plant is located in Podberesje (Novgorod). In the presence of around 400 invited guests and VIPs, including leading personalities from politics and the Government of the Russian Federation, as well as representatives of business, the Governor of the District of Novgorod, Mikhail Prusak and the CEO of Pfleiderer AG, Hans H. Overdiek formally started up the highly modern particleboard and coating plant. The plant has an annual capacity of around 500 thousand cubic meters of particleboard. Now that production has officially started, a three-shift system will be introduced shortly. As a result, Pfleiderer AG expects noticeable effects in terms of revenues and result from Russian production during the course of the year. The fast growing demand for engineered wood in Eastern Europe, Russia and the emerging neighbouring states have been central growth markets for the Pfleiderer Group for a long time now, and are increasingly gaining in importance. Russia is a particularly attractive and prospective market, as the demand for engineered wood is expected to grow by double digits in the coming years. "The decision to build this highly modern particleboard plant at Podberesje was a logical step in the Pfleiderer Group's strategy of expansion in Eastern Europe," stated Hans H. Overdiek, CEO of Pfleiderer AG during the official opening of the plant. "As far as further expansion is concerned, Novgorod is located strategically as a production location from which to supply the Russian market, as well as for exports," Overdiek went on.