Hungarian steel maker invests EUR 20 mln in expansion
Hungary-based steel product manufacturer OAM Ózdi Acélművek announced on Friday the launch of a EUR 20 million capacity expansion and technology development at its base in Ózd, which is expected to raise headcount by 100 from 450 at present, Hungarian news agency MTI reported.
The project is due to be completed by 2018, managing director Imre Bartha said. Annual capacity at the plant (about 155 km northeast of Budapest) is expected to increase from 200,000 to 300,000 tons.
The firm, owned by Germanyʼs Max Aicher, produces hot rolled reinforcing bars, round bars, wire rods and welded meshes, MTI said. This year, the company targets profit of EUR 10 mln on revenue of EUR 95 mln, Bartha added.
MNB Gauges Interest in Operating on Hungary Crypto-assets Ma...
Bulgaria's Household Income, Spending Rise 20% in 2023
Budapest Airport Building on ‘Strong Employer Brand’ and ‘Vi...
Silvanus Hotel Under Reconstruction, Will Reopen in Fall
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
