The Hungarian subsidiary of German Bowden cable manufacturer SCS Stahlschmidt is planning to expand its plant with the addition of a 800 square-meter production hall at its base in Tatabánya, Managing Director István Tornyos told state news agency MTI.
SCS Stahlschmidt Cable Systems Hungary is planning to invest approximately HUF 500 million in increasing production and storage capacity at the plant in the coming two years. Additionally, the firm is looking to hire 30-40 new employees by the end of the year.
Currently the Hungarian subsidiary operates two production halls of 2,000 sqm each, working with a staff of 350.
Revenues rose 20% last year to HUF 3.7 bln, MTI reported. The Stahlschmidt group was acquired by financial investment company Peter Möhrle Holding in 2015.
A Bowden cable is a special type of flexible cable most commonly used to transmit mechanical force or energy by the movement of an inner cable relative to a hollow outer cable housing.