Kronospan adds 5m euros to capital

Brasov-based Kronospan Romania, the distributor of Austria’s Kronospan group, one of the main players in the wood industry, intends to increase its share capital by 5.36m euros, to 11m euros. Kronospan Romania, part of Kronospan Holdings from Cyprus, distributes the wood products manufactured abroad by the group on the Romanian market. At present, Kronospan is the biggest producer of chipboard and the only producer of MDF (medium density fibreboard) on the domestic market via its two firms owned through the Kronospan Sebes firm. The company announced it would operate investments worth 15m euros in the coming years in Sebes, out of the total investments worth above 250m euros already carried out in Romania so far. Kronospan last year generated a turnover worth above 150m euros and gross income worth 6.46m RON (1.83m euros).