Egger becomes top three wood processing player

Austrian-based Egger, one of the top European players in the wood processing industry, could reach sales worth 150 million euros by 2010 via its plant in Radauti, opened Friday. Such a figure would secure the Austrian group one of the top three positions among companies in the industry. “This year, we will not be working at full capacity, but over the next 24 months, we will reach sales worth 150 million euros,” Thomas Leissing, CFO of the Egger group, told ZF. The Austrians have completed a 210 million-euro investment in a particleboard plant, as part of a more extensive, 500 million-euro investment. 60% of the funding has been provided for by the EBRD, which also holds 17% in the capital of the plant in Suceava county. The Austrian group holds 76 hectares of land in Suceava county. “Such an investment takes 7-8 years to recoup, with the plant to generate 10% of the Egger group’s overall sales when it reaches full capacity,” added Leissing. This plant is the group’s 16th, and 400 of Egger’s 5,700 employees working here.