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Swiss Krono Group lays cornerstone of €95 mln particle board plant

Swiss Krono Group laid the cornerstone of a €95 mln particle board plant in Vásárosnamény (northeastern Hungary) yesterday, Hungarian news agency MTI reported yesterday. The group's unit Interpsan, which announced the plant investment in late January, will start construction in the spring and finish by June of 2016, said managing director Barnabás Seregi.

 The plant will have capacity to turn out 280,000 cubic meters of oriented strand board (OSB) a year, he added. Wood for the plant will come from Hungary, Romania, Slovakia and Ukraine. About 80% of the plant's output will be exported.

Swiss Krono Group made one of its first investments outside of Switzerland in Vásárosnamény in 1989, but it closed the base in 2011, citing poor economic conditions. The new plant is expected to create more than 100 jobs.