Austrian Kronospan seeks for new investments in Poland

Jul 27, 2006. /Lesprom Network/. Austria's Kronospan, which manufactures products for the furniture business, is serious about investing, PNB reported. In September, the company will open a new decorative laminate factory in Pustkowo, Poland - the facility is currently being started-up. The factory cost PLN 220 million ($71.4 million) and will provide 300 new jobs. September will also see Kronospan finishing the modernization of its wood-chip board factory in Szczecinek, Poland, which is estimated to cost around PLN 500 million ($162.4 million). "The factory will produce 700 000 cubic meters of boards a year. Employment will rise by 200. Also, around 1 500 new workplaces will be created in partner companies," says Tomasz Janczak, director in charger of Kronospan's development in Poland. Kronospan recently lost its battle with market leader Pfleiderer Grajewo for the acquisition of the Silekol resin-producing company. However, the Supreme Board of Inspection may annul the transaction, in which case Kronospan is sure to try once again.