UKRAINE – Kronospan, one of the largest producers of wood panels in Ukraine, has launched a new OSB production line in the Rivne region.

The investment in this new facility amounts to EUR 200 million, with approximately 60% of the production expected to be exported to the European Union and the United States.

In addition to this new production line, Kronospan has initiated the creation of an industrial park aimed at forming a furniture cluster around its wood panel production plant. The company has already invested EUR 47 million in preparatory work and infrastructure for the park, including EUR 34 million invested during the ongoing war.

The opening ceremony was attended by Ukraine’s First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko, who emphasized the significance of this investment: “Kronospan is the largest European manufacturer of wood panels operating in Ukraine and continues to invest in new production lines even during the war. This is an important example of timely and effective investment for both European and Ukrainian companies. The new production is also an example of investment in the processing industry, which is a key priority of economic policy,” said Svyrydenko.

She also reminded that over the past 20 years, Kronospan has invested nearly EUR 1 billion in Ukrainian production, with EUR 563 million directed to the Rivne plant, which currently employs almost 800 production specialists.

Svyrydenko pointed out that the government’s task is to create conditions that make investing in the development of Ukraine’s real sector profitable, as well as producing and exporting value-added products. The “Made in Ukraine” policy aims to support this, including through the development of industrial parks, supporting investment-heavy projects, and offering insurance against war risks, among other initiatives.