Kronoerg to Increase Laminate Production in Poland
Warsaw Poland, November 18--Kronoerg, the laminate subsidiary of Austrian Kronospan, plans to open a new z³.120 million production plant in May 2005 according to the Business Journal.
The capital for the investment, which was slated to begin this year, will be provided by banks and the owner. The delay is due to the lack of reaching an agreement with a receiver concerning the purchase of a nearby plot of land. However, "We have now settled the issue and by the end of the year we will purchase land worth z³.600,000," said Jacek Gil, managing director of Kronoerg.
The investment will be carried out in two phases, with the second to be concluded in 2006. As a result, its output of laminate will increase from 2 million square meters to 20 million square meters per annum. The product will be exported to the EU, Russia and Ukraine.
