OREANDA-NEWS. October 25, 2010. Austria’s Kronospan Holdings Ltd. is ready to implement a woodworking project in Grodno Oblast. This issue was discussed during a meeting between Belarusian Prime Minister Sergei Sidorsky and representatives of the company.

Sergei Sidorsky noted that that at the previous meeting the sides reaffirmed the readiness to discuss the project. The Austrian company was offered vacant production premises in Grodno Oblast. Now, with all formalities observed, the parties are willing to sign the agreement to set up a woodworking facility.

Now we need to “finalize the terms of the investment agreement, its provisions,” Sergei Sidorsky said.

“We fell in love with Grodno Oblast. We have been offered a number of sites from which we could choose the most suitable one,” said Peter Kaindl, Director of Kronospan Holdings Ltd. He expressed confidence that the proposed site is ideal from all points of view. One of the main reasons in favor is the availability of necessary resources. “Here we can use our experience in the field of sustainable timber management. We know how to do business in this area,” said Peter Kaindl.

The Austrian businessman stressed that in Belarus there are vast woodlands and they are located far away from the major markets. That is why it is necessary to set up a woodworking plant here. The company is eager to implement the project in Belarus, to produce goods which have not been manufactured in the country before. The company is ready to share its technologies and will do its best not to make big competition to local producers, according to Peter Kaindl. The project will be export-based.

The investment deal is likely to be signed at Belarus Investment Forum in Frankfurt am Maine.

Kronospan Holdings Ltd (Austria) operates 30 production units in 18 countries. The company employs 11,000 professionals. Its average annual turnover is €2.7 billion. The company is a globally recognized producer of wood-particle boards and materials. It invests heavily in the countries of Central and Eastern Europe.