Swiss Krono Sets Up New Plywood Plant in Hungary

Swiss Krono, a leading supplier of wood-based materials has announced to build a plywood plant in Vásárosnamény, NE Hungary, for EUR 23.7 million with the aim to produce a new item of the Group’s product portfolio. The project is expected to create 90 jobs, according to the Hungarian Investment Promotion Agency.

The Swiss Krono Group, headquartered in Lucerne, Switzerland, is a leading supplier of wood-based materials, and has been operating for over fifty years. Being present in 8 countries, the company offers a wide range of products in the fields of interior design, flooring and building materials.

Swiss Krono has established one of Europe’s most modern OSB (Oriented Strand Board) plants in Vásárosnamény, located some 300 km east from Budapest. Now the company continues its reinvestment efforts as it has given a green light to two investments in Hungary in the past two years.

The new plant worth EUR 23.7 million, over 10% of which is covered by Hungarian taxpayers through a government decisison, will have the capacity of producing 17,000 cubic meters of plywood, a brand new item of the Group’s product portfolio. Swiss Krono plans to export 80% of that volume.

The project is scheduled to be up and running by September 2024.