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Swiss Krono Group opens wood processing plant

Int’l Relations

The Swiss Krono Group inaugurated a new wood processing plant producing oriented strand board (OSB) Wednesday, completed through an investment of HUF 30 billion in Vásárosnamény, northeast Hungary, according to Hungarian news agency MTI.

Swiss Kronoʼs Hungarian subsidiary received a grant of several billion forints for the investment, which creates more than 100 jobs, László Szabó, state secretary at the Ministry of Foreign Affairs and Trade, said at the opening ceremony. 

He said the Hungarian Investment Promotion Agency (HIPA) is currently in talks with eight Swiss companies, whose projects could create a total of almost 1,600 new jobs in Hungary through investments worth a combined EUR 108.6 million.

Ines Kaindl-Benes, chair of the board at the Swiss Krono Group, said the new plant has been established at the site of former wood processing company Interspan Faipari, which was shut down in 2011.

Swiss Krono Hungary will produce 300,000 cubic meters of OSB a year, increasing the groupʼs total output by 20% from the current 1.5 million cubic meters. The products will be sold in Hungary and neighboring countries.

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