French Wood Flooring Producer to Open Second Plant
Bourgbarre, France, October 28-- Panaget, the French manufacturer of wooden parquet flooring, is planning to open a second production site.
The company already has one factory in Bourgbarre in Ille-et-Vilaine, and is now planning to open another in Redon, less than an hour from its first site.
The new site is to go into production in January 2005, and will produce 250,000 sq m of flooring per year, compared with 900,000 at the first site.
A total of 6m euros is to be invested in the new site over a period of three years. The site will initially employ around 20 staff, although the company is aiming to recruit 60 staff over the next three years. Panaget employs 200 staff in total and achieved a turnover of 24m euros last year, 10 per cent higher than for the previous year. In 2004, it is hoping to increase its sales volumes by around 15 per cent. The company is a subsidiary of German group MDB.
