29 October 2008

Recent Investments

Austrian multinational company Kronospan has signed a tentative agreement to install a new factory in Alguaire (Lleida). Kronospan specializes in the production of panels for parquet and furniture elaborated from wood waste and biomass derived from forest clearance. Kronospan appears to be interested in a piece of land belonging to the Catalan Institute for Land Management, next to the Alguaire airport. The land is currently being converted to urban land.

Kronospan plans to invest 300 million euros in Catalonia, creating 300 new direct jobs, and some 1,200 indirect ones. Since the project's early stages, in 2006, Kronospan has received the support of the Catalan Investment Agency in areas such as subsidies and incentives, negotiations with government agencies, environmental issues and the plant location.

Kronospan specializes in the production of high and medium density tables and boards, chipboard, melamine, OSB (Oriented Strand Boards), high pressure laminates and floating parquet floors. The company has 28 centers in countries such as Germany, United Kingdom, Luxembourg, Poland, Czech Republic, Russia, Slovakia, Bulgaria and China, employing about 10,000 workers.

Source: Catalonia Investment Agency