The group estimated EUR512 million revenue in 2014, 9% more than in 2013.
“We expect 10% growth of our revenue this year, on the back of a steady market for our products and the start of the operations in our new production facility in Reci,” Holzindustrie Schweighofer officials said.
Schweighofer is making a EUR150 million investment in a lumber plant in Covasna County, which will create 650 jobs.
It took out a EUR35 million loan from Erste Bank, the owner of the largest bank in Romania, BCR, at the end of last year to fund the investment in Covasna.
The facility in Reci will begin operations this spring and be the Austrian group’s fifth production facility in Romania, after those in Sebes, Radauti, Siret and Comanesti. All the equipment the Reci plant will use is new and the raw material will come from Romania and other countries, the company said.
Holzindustrie Schweighofer SRL is the largest and most profitable wood processing company in Romania. Wood processing is a EUR3 billion business in Romania.
(English version by Loredana Fratila-Cristescu)