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Interspan to close fiberboard plant in NE Hungary

Swiss-owned Interspan will close its fiberboard plant in Vásárosnamény by March, laying off most of its almost 200 employees, regional daily Kelet-Magyarország reported on Thursday. Barnabás Seregi, who heads the KronoGroup unit in Hungary, said the owner would have had to invest HUF 15-20 billion to modernise the plant but was unsure it would recoup the investment. Interspan will keep 10-20 staff for sales and logistics. (MTI-ECONEWS)