Leax Hungary invests HUF 530 mln in EU funds

Pharma

Swedish-owned metalworking company Leax Hungary invested HUF 530 mln at its unit in Mezőkövesd, northeast Hungary, in order to increase production capacity, director András Farkas informed Hungarian news agency MTI today.

The investment was entirely supported by a European Union grant, which was spent on purchasing machinery and creating 30 new jobs, raising the unit’s headcount to almost 300, the director said.

Leax Hungary primarily manufactures products for the engineering industry, and in smaller part for the farm machinery and car manufacturing sectors. Almost 90% of the products are exported.

The company had revenue of close to HUF 7 bln in 2013.

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