Kronospan to Invest BGN 300 M in Bulgaria's Veliko Tarnovo

Business | January 24, 2017, Tuesday // 15:51| Views: | Comments: 0
  • Send to Kindle
Bulgaria: Kronospan to Invest BGN 300 M in Bulgaria's Veliko Tarnovo

Austrian wood-based panels manufacturer Kronospan is to expand its production facilities in the northern Bulgarian city of Veliko Tarnovo, Capital.bg reports.

Apart from adding a particle board streamline, it will start the production of medium-density fibreboard (MDF), which has never been made in Bulgaria as of the moment.
 
An investment plan worth BGN 300 M has already been launched by the company, which also plans to create a zone where furniture manufacturers using particle board made by Kronospan will be able to set up production sites, the website says.

The step will cut logistics expenses of investors using materials from the Austrian company, the latter argues.

Kronospan runs two plants in Bulgaria, one in Veliko Tarnovo and another in Burgas, giving employment to some 400 people. The expansion is expected to add 100 jobs and may create hundreds more in affiliated industries.

Business » Be a reporter: Write and send your article
Tags: Kronospan, Veliko Tarnovo
Expats.bg All Are Welcome! Join Now!
Advertisement
Advertisement
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria