Kronospan Opens Board Plant in Hungary

Budapest, Hungary, November 9, 2007–Kronospan began a $115.8 million investment at its base in Mohacs Hungary on Thursday.

Kronospan opened a renovated factory that houses a new production line. The development boosts the base’s annual production capacity to 200,000-220,000 square meters of particle board and its annual lacquering capacity to 120,000 square meters.

Tibor Novak, who heads Kronospan’s unit in Hungary, said the unit targets revenue of $104.4 million in 2008, more than triple last year’s sales, thanks to the expansion.