Kronospan Rivne, part of the international Austrian corporation Kronospan, has launched a new production line for oriented strand boards (OSB) in Rivne Oblast, the Ukrainian Ministry of Economy reported on Nov. 29.<\/p>\n
The investment in the new facilities amounted to \u20ac200 million, announced Oleksandr Koval, the head of the Rivne Oblast State Administration.<\/p>\n
The new production line has a capacity of 800,000 square meters of boards per year, with 60% of the output destined for export to the European Union and the USA.<\/p>\n
Since the beginning of the year, Kronospan Rivne has sold products worth 2.8 billion hryvnias ($67 million).<\/p>\n
First Vice Prime Minister and Minister of Economy Yulia Svyrydenko reported that over 20 years of operation in Ukraine, Kronospan has invested nearly \u20ac1 billion in Ukrainian production, with \u20ac563 million invested in the Rivne plant alone.<\/p>\n
\"Currently, Kronospan has initiated the creation of an industrial park,\" Svyrydenko said.<\/p>\n
The idea is to form a furniture cluster around the wood board production plant.<\/p>\n
\"The company has already invested \u20ac47 million ($50 million) in preparatory work and infrastructure for the industrial park, including \u20ac34 million ($36 million) during the war,\" the minister noted.<\/p>\n
Founded in Austria in 1897, Kronospan operates 41 facilities and is a leading European producer of wood-based panel materials.<\/p>","protected":false},"excerpt":{"rendered":"