Modern Wood-Based Material Plant in Vásárosnamény

Production volume of SWISS KRONO Ltd., a company specialized for producing OSB (Oriented Strand Board), is projected to more than double thanks to a EUR 6.5 million investment at its site in Vásárosnamény, NE Hungary, that is expected to be completed by September 2023. About 15% of the investment cost is covered by Hungarian taxpayers, according to a government decision.

The Switzerland-based SWISS KRONO Group employs 5,000+ worldwide and has been producing wood-based materials for over 50 years. The corporate group started out as a family business, and by now it is among Europe’s leading manufacturers, the Hungarian Investment Promotion Agency (HIPA) reports.

The Group has presence at ten locations, namely in Switzerland, Germany, France, Poland, Ukraine, Russia, the U.S. and Hungary.

The facility in Vásárosnamény that launched operation in 2016 is one of the most modern OSB plants of the continent where now new capacity expansion for „Nut & Feder" (N&F) OSB will be realized. As a result of the development the manufacturing of higher value-added BE.YOND ecoWALL wall panels, which is made with this technology for decoration purposes, can also add to company revenues significantly in the future.

As SWISS KRONO CEO Martin Brettenthaler highlighted, by now the Hungarian operation has become the most profitable one of the Group, and success is rooted in the highly skilled, dedicated workforce, excellent raw material supply and the positive environment, with special emphasis on HIPA’s support.

“There are risks out there, but we are here for the long run, and we are not getting scared by problems that might exist for the short term. We expect very strong growth for our new high value-added products that also serve decarbonization, a key issue on the European level,” Martin Brettenthaler added.

Switzerland is the tenth largest investor in Hungary in terms of foreign direct investment, and it accounts for 3.2% of the total FDI volume.