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Novation Tech announces HUF 1.3 bln base development

Automotive

Photo by novationtech.com

Italian-owned Novation Tech, which makes composite parts for the automotive industry, yesterday announced a HUF 1.3 billion development at its base in Szeghalom (190 km southeast of Budapest), according to autopro.hu.

Minister of Foreign Affairs and Trade Péter Szijjártó said the state supports the investment, which will create 50 jobs, with a HUF 450 million grant.

Novation Tech had net sales revenue of HUF 1.9 bln in 2020, according to public records.

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