Kronospan to invest up to Euro 150 million in new facility in Poland

Aug 17, 2006. /Lesprom Network/. Wooden board and panel producer Kronospan is planning to expand into north-eastern Poland, PNB reported. The corporation intends to build a new facility in the region with annual production output of 500 000 cubic meters of chipboard and 500 000 cubic meters of OSB. The investment cost is to range from Euro 100 million to Euro 150 million. One of the possible locations for the project to be carried out is the town of Paslek. The factory is to become operational in two years. As a result, the company's domestic production output in Poland will increase by 25%. In three weeks, Kronospan is to launch a new laminate production facility and a modernized chipboard factory in Szczecinek. "The local chipboard and OSB markets will grow by 5% and 15% per year, respectively," says Tomasz Janczak, management board member at one of the company's subsidiaries, Kronospan Mielec.