UPDATE - Nolato investing €7m at unit in Hungary
Swedish hygiene and health product maker Nolato is investing €7m to expand capacity and broaden the product range at its unit in Mosonmagyaróvár (NW Hungary), Nolato Magyarország managing director Johan Arvidsson said at a press conference on Wednesday.
The unit won a HUF 430m grant to support the investment, which will add 50 employees to a staff of more than 400, Arvidsson said.
The project involved the construction of a 3,700sqm automated warehouse and the conversion of Nolato Magyarország’s existing warehouse into a clean space where the company can make products such as disposable parts for dialysis machines, said business director Norbert Meleg. Production in the clean space is expected to start at the beginning of 2013, he added.
Nolato Magyarország expects to close 2011 with revenue of €41m, up from €34m in 2010. Exports generate about 60% of revenue.
The company is focusing on making parts for high-tech medical equipment.
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.