Swiss Krono doubles capacity by 2022

Local news, 22.10.2021

With an investment of 47 million Euro, Swiss OSB manufacturer Swiss Krono is raising its capacity to an annual 600.000 m3 of OSB/3 panels. This equals a doubling of current capacity. The Hungarian State supports the investment by bearing almost 15% of investment costs.

© Embassy of Switzerland

Martin Brettenthaler, CEO of Lucerne based Swiss Krono Group stressed that 70% of the products from Vásárosnamény are exported to the Balkans, Romania and Italy. As its products contribute to more sustainability in the construction industry, demand is constantly raising. The company resumed its Hungarian operations in 2016 and relies more and more on domestic suppliers. The excellent support of local and national authorities, is also playing a major role in the success story, the CEO highlighted. On a group level, annual turnover has been about 2 bn Euro in 2020.

Péter Szijjártó, Minister of Foreign Affaires and Trade, expressed his thanks to the company leadership, to bring this investment to Hungary. Hungarian Forestry went through a dynamic growth in the past years and will be able to supply the raw material needed by the company. He also highlighted the role of a successful vaccination campaign, when it comes to the restart of the economy. The Hungarian State added 2.5 bn HUF to the investment and asked the company to guarantee the workforce stock for at least another 10 years in return. Minister Szijjártó said that Switzerland is No. 11 investor country in Hungary employing about 31’000 people.