The foundation stone of the new facility was laid on Wednesday, the company's CEO, Imre Hancs, said.
He added that the company won more than HUF 160 million in EU funding for the HUF 320 mln development under the Széchenyi Plus program. To that has been added HUF 60 mln of the company's own resources and HUF 100 mln in loans.
The firm produces 650,000 liters of paint per year. Its products are sold domestically and can be found on the shelves of 70% of the country's paint shops, Hancs noted. The new production hall will produce solvent-based paints, and production technology will be improved, allowing the company to produce paints that can provide electrostatic discharge (ESD) protection to treated surfaces.
The development is expected to increase sales by HUF 50 mln-100 mln from the first year, with plans to add five-10 people to the current 43 staff working at the company.
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