Plywood producer Falco Co. Ltd. invests EUR 25 million to develop numerous production areas at their premise in Szombathely, W Hungary. The development project will conclude in 2024 and it helps in retaining 302 jobs.
HUF 1.2 billion of the HUF 8.2 billion investment costs will be covered by the Hungarian government.
The company was established in 1937 and has production facilities in Szombathely and Tárnok, SW of Budapest; The firm has been member of the Kronospan enterprise group since 2007. Falco Co. Ltd. is the leading producer of plywood for furniture and construction. Besides other companies in the Kronospan group, they also sell their products to numerous European buyers.
As the Hungarian Investment Promotion Agency (HIPA) reports, the current investment aims to develop the construction plywood machine line by introducing a new waste wood cleaning technology, starting the production of cement-bonded particleboards, establishing an open-air base material storage and also laying down industrial railway tracks.
The plant development will enable faster adaptation to customer demands and increasing manufacturing capacity, which will reduce production costs, thus contributing to the long run competitiveness of the company.
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