Kronospan does not rule out new investments in Russia

KALUGA. Dec 22 (Interfax) - Kronospan, a manufacturer of wood-based panels, is considering further investments in Russia, the director of Kronospan Holdings East Ltd, Peter Kaindl told Interfax.

The company remains committed to Russia and is following all investment opportunities, Kaindl said. Kronospan Holdings East manages the company's Russian business.

Kronospan plans to continue to invest in the Russian market. The company now needs to get a handle on what it has already done, as it is still adapting, and then it will announce projects one after another, Kaindl said.

The authorities of Austria, where Kronospan was founded, are not exerting pressure on the company over its plans to maintain its presence in Russia, he said.

Kronospan is a major manufacturer of wood-based panels and laminate flooring. The group has more than 40 production facilities in 28 countries that employ over 14,000 people. In Russia, the company has plants in Bashkortostan and Penza, Smolensk, Kaluga and Moscow regions, and it plans to build a logistics center in Kaliningrad Region.