The Swiss wood processing company Swiss Krono Kft. – a subsidiary of the Swiss Krono Group – will build a new plywood production plant worth HUF 9 billion (EUR 23.43 million). The state is supporting the investment with HUF 1 billion (EUR 2.6 million). The project is expected to create 90 new jobs.
The new plant will have the capacity of producing 17,000 cubic meters of plywood. 80% of this volume will be exported.
Swiss companies employ around 31,000 people in almost 1,000 companies in Hungary and are the eleventh largest investor community in the country. The value of bilateral trade exceeded EUR 2 billion last year after a significant expansion.
The production value of the domestic timber industry, which employs some 12,000 people, reached a record of HUF 600 billion (EUR 1.5 billion) last year, an increase of 30%.