Fiberboard Production Plant Expanded

Austrian-owned KRONOSPAN-MOFA Hungary Fiberboard Production Ltd. is expanding the capacity of its plant in Mohács, S Hungary, for the production of fiberboard to the tune of HUF 2 billion, with Hungarian taxpayers covering HUF 286 million of the invested amount as state contribution.

The Hungarian timber industry, which employs 16,000 people, also set a record last year, with a 26% increase in value to nearly HUF 600 billion. This particular investment promises to help safeguard the jobs of 230 people.

KRONOSPAN, today the world’s largest group in wood-based panel production, was established in 1897 in Lungötz (Austria) as a family business. Today, the company has several production and trade facilities in 27 countries.

In its production activity, KRONOSPAN-MOFA Hungary Fiberboard Production Ltd. pursues to elaborate environmentally friendly production methods that determine the quality of human life. The company is dedicated to the production of environmentally friendly products, and its wood purchase policy aims for the assurance of sustainable development.

Austria is Hungary's third most important trading partner, and last year bilateral trade reached a new record of EUR 17 billion, with a 37% increase.