Swiss Krono Group to build €95 mln particle board plant in Hungary

Conferences

The Swiss Krono Group is set to begin construction this spring on a €95 mln particle board plant in Vásárosnamény, in northeastern Hungary, with the aim of turning out oriented strand board (OSB) from the following spring, board member Max von Tippelskirch said yesterday.

The investment is expected to create more than 100 jobs at the plant.

The company thanked the Hungarian authorities for expediting the process related to the investment and acknowledged the support of the government. State secretary Levente Magyar said that once an official decision is made on the size of the subsidy, the company would be awarded that amount.

Tippelskirch said the Swiss Krono Group made one of its first investments outside of Switzerland in Vásárosnamény in 1989, but closed the base in 2011 due to economic conditions. Since then, conditions have improved, he added.

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.