New Italian plant in Russia for Safwood

Based in Piacenza and member of FederlegnoArredo, Safwood – with operations in Russia and Poland in the forestry and wood processing industry – has signed two loan contracts with Intesa Sanpaolo, partially shared with two more banking institutes, for the construction of an osb (oriented strand board) production plant in the Komi Republic, Russia. The investment plan amounts to 130 million euros, covered by corporate resources for 52 million euros and structured loans by Intesa Sanpaolo for 78 million euros.
“FederlegnoArredo is even closer to companies in this difficult moment – said FederlegnoArredo president Rosario Messina – We have supported the Russian project of our member company Safwood as an example of what companies can do to give a proactive response to the crisis. Such operations prove that, to revive business, you have to restore a climate of confidence and support companies that choose to invest, relying on the know-how and strong commitment that characterized the Italian wood-furniture industry”.