. Earlier this year, it announced it was closing its solid wood panel factory in Siret, Suceava County, a decision that affected 600 employees.
“At HS Baco Panels, the largest panel factory in the world, located in Comanești, Bacau County, more than EUR4 million are being invested in energy efficiency projects, making technological processes more efficient by purchasing machinery to improve and automate the technological flow and increasing production capacity,” said Dan Banacu, managing director of HS Timber Productions, in response to the ZF `Cei mai mari jucatori din economie’ (The key players in the economy) yearbook – 2022 edition, which recently appeared on the market.
“A similar investment will also take place in Covasna County, at the sawmill in Reci. Here the amount goes up to EUR14 million.”
The company is also investing in the commissioning of photovoltaic parks for self-consumption and has further investments planned for technology and maintenance.
Last year, HS Timber Productions posted RON3.1 billion revenue, up 29% on the previous year. Profit of RON616.6 million was 81% higher, but the average number of employees fell to 1,575 from 2,136 a year earlier.
(English version by Loredana Fratila-Cristescu)