Kronospan increases investment in Poland

Kronospan, an Austrian producer of materials used in the furniture industry, is investing big money in Poland. It is opening a new plant in Poland valued at zł.220 million which will create 300 new jobs. The plant will produce laminated panels. The company is targeting a production level of about 15 million laminated panels a year. Production value is estimated to be about zł.400 million. Kronospan is also modernizing a plant manufacturing chipboards in Szczecinek, which will cost the company about zł.500 million. Since 1998 Kronospan has invested USD 1 billion in building and modernizing Polish plants. In 2005 the company's revenues amounted to zł.3 billion. (Puls Biznesu, p.7) M.M.