Sanatmetal financed the investment from internal funds and bank credit, according to a press release on the firmʼs website. Present on the Russian market for more than 15 years, the firm is transferring its technology while its Russian partner is managing sales and marketing.
Sanatmetal is a manufacturer of traumatological, spine surgical and joint replacement (hip and knee) prostheses and devices, as well as dental implants, the press release noted. The 100% Hungarian-owned firm claims to be among the top 40 companies in Europe in its profile, with 50 years of experience in the field.
The inauguration ceremony was attended by István Joó, deputy state secretary for export development at the Ministry of Foreign Affairs and Trade, national news agency MTI reported. Joó noted that bilateral trade between Hungary and Russia grew by 30% in 2017, with Hungarian exports up 20%.
Sanatmetal spent 15% of its revenue on R&D last year, MTI noted.
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