AR-Robotics Wins HUF 677 mln in EU Support for Upgrade
Sheet metal products maker AR-Robotics has won around HUF 677 million in European Union support covering half of the cost of an investment to upgrade technology and improve quality, the company's PR manager told news agency MTI.
AR-Robotics is acquiring machinery that will advance its production technology and switching to renewable energy at its plant in Debrecen, Balázs Farcádi said. The company is also using the funding to give the company a presence at trade fairs abroad, he added.
The project will finish by the end of October 2024.
AR-Robotics had net revenue of HUF 1.3 billion in 2021, public records show.
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.