Kronospan’s plans to invest more in Belarus

BeITA news agency reports that Kronospan group has an intention to invest up to USD200m in expanding its mills in Belarus and create 120 new jobs in 2017-2018.

Kronospan’s managing director Tomasz Janczak revealed these plans on 21 March during a visit of Belarus’s President Alexander Lukashenko to the Mogilev OSB mill, which started working in August 2014. Another BeITA article reported that Kronospan’s owner Peter Kaindl is going to invest USD50m-200m in its Belarusian sites by the end of 2018. This was stated in a meeting held on 18 January with Belarus’ Prime Minister Andrei Kobyakov.
In accordance with the BelTA reports, Kronospan invested around USD900m in building and expanding its sites in Smorgon and Mogilev in 2012-2016 within the framework of the investment agreement signed with the Government of Belarus in 2010. Currently Kronospan employs more than 1,000 workers at two locations.

Information provided according to http://www.euwid-wood-products.com