European wood-based panel manufacturers invest €200M in woodworking plants in the Rivne region.

European wood-based panel manufacturer Kronospan has invested €200M in a new production line for oriented strand board (OSB) in the Rivne region. Over the past 20 years of operation in Ukraine, the company has invested almost €1B in Ukrainian production, of which €563M has gone to a plant in the Rivne region. The company currently employs nearly 800 specialists.

The company has also initiated the creation of an industrial park, where it plans to form a furniture cluster around the wood-based panel plant. The company already invested €47M in this project, of which €34M has been invested during the full-scale war. The new production line will generate 800,000 square meters of paneling per year, of which 60% will be exported to the European Union and the US.

The enterprise is part of Kronospan, an internation corporation based in Austria. The company is one of Rivne furniture cluster’s leaders.