Kronospan, a leading European manufacturer of wood-based panels, has invested €200 million in a new oriented strand board (OSB) production line in Ukraine's Rivne region. Over the past two decades, the company has invested close to €1 billion in its Ukrainian operations, with €563 million allocated specifically to the Rivne plant. The company currently employs around 800 workers.
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In addition to expanding production, Kronospan is spearheading the development of an industrial park to establish a furniture cluster around the wood-based panel facility. The project has already attracted €47 million in investment, including €34 million allocated during the ongoing full-scale war. The new OSB production line is expected to produce 800,000 square metres of panelling annually, with 60% destined for export to the European Union and the United States.
Kronospan, headquartered in Austria, is a prominent player in the Rivne furniture cluster and continues to strengthen its leadership in the region.
Source: www.ubn.news