The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Severna Bulgaria; Severen tsentralen; Veliko Tarnovo
Location of affected unit(s)
Veliko Tarnovo
Sector
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Wood And Of Products Of Wood And Cork, Except Furniture; Manufacture Of Articles Of Straw And Plaiting Materials 16.21 - Manufacture of veneer sheets and wood-based panels
170 jobs Number of planned job creations
Announcement Date
28 November 2019
Employment effect (start)
Foreseen end date
31 December 2020
Description
Kronospan Bulgaria, part of a leading international of wood-based panels manufacturer, announced that the company's recent investment has created 170 new positions in Veliko Tarnovo, Bulgaria. The company has already hired 100 new workers and 70 new employees will be recruited in 2020 when the new facility is fully deployed. In 2018, the company made a major investment in digitalisation and environmental installations. In the long-term, the company wants to attract business partners and furniture companies in the region that will additionally create around 500 new positions. Currently, Kronospan Bulgaria employes 450 workers in Bulgaria - 200 in Veliko Tarnovo and 250 in Burgas. The company is owned by Konikato Holdings, based in Cyprus, but the ultimate owner is the Lichtenstein-owned Betuva foundation. The corporation has more than 40 production facilities in Europe, Asia and North America with more than 14,500 employees.
Eurofound (2019), Kronospan Bulgaria, Business expansion in Bulgaria, factsheet number 99414, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99414.
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