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Rába signs EUR 10 mln contract with Austrian peer

Hungarian automotive manufacturer Rába has signed a EUR 10 million contract with the Austrian subsidiary of Munich-based Rheinmetall MAN Military Vehicles (RMMV) on delivering welded vehicle parts to the Austrian firm for a period of four years, according to a press release sent to the Budapest Business Journal.

With the current order, which is expected to add up to more than EUR 2.5 million by the end of the year, Rába, which has mainly been completing orders for construction firms, is entering into a new segment of trucks and lorries.

Rába noted that cooperation between the two companies started in 2015, and after the trial manufacturing period proved to be successful, the Austrian peer decided to place an order.

Rába added that with the current deal it is boosting its market share in the European market, in harmony with its strategic goals, supported by recent investments in developing technology and expanding capacity.