EMCC European Monitoring Centre on Change

Kronospan Bulgaria

Company/Organisation:
Kronospan Bulgaria

Geographic Location

Country: Bulgaria
Region: Veliko Tarnovo; Severen tsentralen; Severna Bulgaria
Location of affected unit(s): Veliko Tarnovo

Company

Sector: Manufacturing
Manufacture of wood and paper products, and printing
16.21 - Manufacture of veneer sheets and wood-based panels
Number Employed: 200
Group: Kronospan Holdings

Employment Effects

Announcement Date: 28-11-2019
Type of Restructuring: Business expansion
Foreseen End Date: 31-12-2020
Planned Job Creation: 170

Additional Information

Kronospan Bulgaria, part of a leading international of wood-based panels manufacturer, announced that the company's recent investment has created 170 new positions in Veliko Tarnovo, Bulgaria. The company has already hired 100 new workers and 70 new employees will be recruited in 2020 when the new facility is fully deployed. In 2018, the company made a major investment in digitalisation and environmental installations. In the long-term, the company wants to attract business partners and furniture companies in the region that will additionally create around 500 new positions. 
Currently, Kronospan Bulgaria employes 450 workers in Bulgaria - 200 in Veliko Tarnovo and 250 in Burgas. The company is owned by Konikato Holdings, based in Cyprus, but the ultimate owner is the Lichtenstein-owned Betuva foundation. The corporation has more than 40 production facilities in Europe, Asia and North America with more than 14,500 employees.

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