Kronospan plans to expand its machinery construction operations following its acquisition of a majority share in Chinese firm Shanghai Wood-Based Panel Machinery Co Ltd (SWBPM).
The Austrian-based company’s purchase of 70% of SWBPM will allow it to secure further growth in its Asian wood panel operations, especially in China. Its operations have so far been limited to Peking and Danyang.
Kronospan believes machinery produced in China will be extensively used in the future, especially in Asia, and the acquisition provides the company with a base of its own.
SWBPM, which will see its workforce cut from 960 to 750, will continue to supply other customers as well as companies in the Kronospan group. It produces single and multi-level presses and can also supply dryers, coating and laminating presses, sanding machines and handling units.
Prior to the takeover, Kronospan’s machinery construction operations had been mainly the responsibility of Czech firm Kronomech spol sro and Polytrans sro of Slovakia.
