Kronospan launches its two new plants in Poland

APA - Austria Presse Agentur
opublikowano: 24-07-2006, 15:19

Warsaw (Puls Biznesu)- The Austrian group is launching two new plants worth PLN 720m (EUR 181.9m). It has more plans for Poland.

Warsaw (Puls Biznesu)- The Austrian group is launching two new plants worth PLN 720m (EUR 181.9m). It has more plans for Poland.

Kronospan, the producer of goods for the furniture industry, is launching its plant of decoration laminates in Pustkowo. The project is worth PLN 220m. 300 people will be employed in this facility. The production will amount to PLN 400m, half of it will go for exports. In the beginning of September, the company will end the modernization of its board plant in Szczecinek. This project cost PLN 500m.

“The plant will have capacity of 700,000 cubic meters of boards annually. The employment will grow by 200 people plus there are 1,500 jobs created by our subcontractors”, Tomasz Janczak, the head of the Polish Kronospan unit said.

The company is going to build a methanol facility in Szczecin. This project is worth 50m in the first stage. However, the company has some problems in Poland. In January 2005, 1 percent of Silekol glue producer was sold to its rival Pfeiderer by state-owned Kedzierzyn azote plant. A year later, the company bought the remaining 99 percent. The approval of this transaction was given by the Ministry of the Treasure. Kronospan’s representatives say that their offer was higher. The Highest Chamber of Control (NIK) is reviewing the transaction.

“If Silekol is put up for sale again, we will try to buy it”, Tomasz Janczak stressed.

Since 1989, Kronospan has invested in Poland over USD 1 billion. In 2005, it had PLN 3 billion, 20 percent more than in 2004.

(PLN 1 = EUR 0.253)

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Podpis: APA - Austria Presse Agentur


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