Kastamonu entered the list of systemic enterprisesMedia
The status of the company was confirmed by the Decree of the Government of the Russian Federation.
The Kastamonu plant for the production of MDF, HDF and laminated floorings was opened in Tatarstan in 2014. During its operation, the Yelabuga-based company invested more than USD 771.8 million in the region, which makes it the largest Turkish investor in the Republic and the second among residents of the Alabuga SEZ. In addition, thanks to the opening of the plant, 930 jobs were created directly in production, as well as 2,500 in related and service industries – logging, transportation, and furniture industry.
Companies included in the list of systemic enterprises will be able to receive tax deferrals, subsidies for cost recovery, preferential loans and state guarantees. Each industry has its own selection criteria set by the Ministry of Economic Development of the Russian Federation. Thus, enterprises in the timber industry must have a revenue of at least 5 billion rubles and employ at least 500 employees.
"In the current economic situation, for us it is more important than ever to feel the support of the state and receive a high assessment of our company's status for the Russian economy. We continue to actively develop business in Tatarstan, attract investments, build strong partnerships with enterprises in the region and consolidate their efforts. During this difficult time, Kastamonu does not deviate from its main values in relations with partners and consumers – reliability of cooperation and consistent product quality," said Ali Kılıç, CEO of Kastamonu Russia.
To date, the list of systemic enterprises consists of 1,151 companies, while the timber industry is represented by 35 companies, and the furniture industry – by 18 companies. In order to receive support from the state, companies must pass stress tests. Businesses that are at risk will receive the relevant support.
Kastamonu was established in 1969 as a part of the HAYAT holding. The group of companies specializes in the manufacturing of MDF wood boards, particleboards, laminate flooring, door skin panels, and glossy panels. The consolidated turnover of the company amounts to €1.3 billion. The annual production of wood boards is 5 million m3, laminate flooring – 70 million m2. Kastamonu has 18 plants in 7 countries: Turkey, Russia, Italy, Romania, Bulgaria, Bosnia and Herzegovina, and the USA. The company ranks No. 7 internationally and No. 4 in Europe among the largest companies in the wood processing industry.
Kastamonu Press Service (AGT Communications Agency)