German magnet firm expands in Veszprém

Industrial

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German-owned magnetic systems manufacturer Nass Magnet Hungária Kft. opened a HUF 2 million warehouse at its Hungarian base in Veszprém, northwestern Hungary, on Saturday, Hungarian news agency MTI reported today.

Through an investment at the 2,154 sqm warehouse, the company will be able to free up approximately 800 sqm of production space, where it can launch the production of new products.

As a result of the expansion, the company, which currently employs 270 people, is expecting to raise headcount by 20-25.

Revenue of the unit reached €20.8 mln last year, according to MTI.

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