Kronospan, one of the world's largest producers of composite panels, announced it will close its particleboard plant in Bischweier/Baden-Wuerttemberg, Germany.

The plant plant employs 190 people.

Kronospan cited the poor economic situation and the inability to raise prices as the leading factors for its decision to close the plant. Kronospan purchased the factory in 2001 from Gruber and Weber.