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Flooring, symbol pic. © Hamberger Flooring

Groundbreaking for new engineered wood plant in Russia

Article by Lorenz Pfungen, translated by Robert Spannlang | 02.06.2015 - 10:22
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Flooring, symbol pic. © Hamberger Flooring

On May 28, Turkish flooring and surface specialist Kastamonu, Istanbul/TR, held its ground breaking ceremony for a new panel factory in the west Russian town of Lyudinovo. The US$ 200 million plant will produce MDF, plywood, OSB and laminate flooring with a planned production capacity of 1.8 million m³/yr.

The plant is being built on premises of 70 hectares and will offer 450 new jobs. 75% of production is destined for the Russian market, the rest will be exported to Asia and Europe, the online platform investkaluga.com reports.

Kastamonu is a member of Hayat Holding, which achieved a turnover US$ 3 billion in 2014. The holding consists of 25 companies, among others in the fields of construction, port operations, timber and energy.