Family-owned wood panelling specialists, Kronospan, will invest €330 million on its production site in Sanem over the next 5 years.
In line with the principles of sustainable development and the circular economy, the planned investments will include a second cogeneration plant and extension of the plant's production capacity.
At a press conference on Friday last, in the presence of Georges Engel, Mayor of the municipality of Sanem, Deputy Prime Minister Étienne Schneider said, "This project is aligned to fully focus on our sustainable industrial development policy by targeting renewable energies and energy self-sufficiency while focusing on the circular economy. This investment therefore follows the general guidelines of the Rifkin study and confirms Luxembourg's competitive economic environment".
Kronospan Luxembourg employs more than 250 people in Sanem and has an annual turnover of €135 million.
Peter Stadler, Managing Director of Kronospan Luxembourg said, ”Named Kronolux 4.0, the project is not only a modernisation of our production capacity but it makes the whole autonomous site energy and thus neutralises the environmental impact of factory. By focusing on the circular economy, Kronospan projects itself as a family enterprise over the long term and contributes to the quality of life and prosperity of future generations”.
