Ownership stakes in the JV, Busch-Rába Öntöde are to be split between Rába and M. Busch 25.5% and 74.5%, respectively. Rába CEO István Pintér is focusing the company’s operations on producing axles and vehicle parts to turn the company around after losses in three of four years from 2002 to 2005. Rába is to contribute the foundry’s properties, machinery, workforce and other associated assets, while M. Busch is to provide the financial means of realizing a Ft 3.5 billion (about $19.9 million) capacity expansion scheme. Rába said the development initiative is to double the foundry’s capacities. (Napi Gazdaság)
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