Rába signs EUR 10 mln contract with Austrian peer
Hungarian automotive manufacturer Rába has signed a EUR 10 million contract with the Austrian subsidiary of Munich-based Rheinmetall MAN Military Vehicles (RMMV) on delivering welded vehicle parts to the Austrian firm for a period of four years, according to a press release sent to the Budapest Business Journal.
With the current order, which is expected to add up to more than EUR 2.5 million by the end of the year, Rába, which has mainly been completing orders for construction firms, is entering into a new segment of trucks and lorries.
Rába noted that cooperation between the two companies started in 2015, and after the trial manufacturing period proved to be successful, the Austrian peer decided to place an order.
Rába added that with the current deal it is boosting its market share in the European market, in harmony with its strategic goals, supported by recent investments in developing technology and expanding capacity.
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.