CSABAcast launches HUF 5 bln expansion
Hungarian die casting company CSABAcast Kft. launched an expansion project worth more than HUF 4.7 billion, the Hungarian Promotion and Investment Agency (HIPA) said yesterday in a press release. The Hungarian government is supporting the investment with a HUF 940 million grant.
(Photo: Official website of the company)
The investment to establish a 15,000 sqm production hall, which is expected to be wound up in two years, is likely to double production volume and create 130 new jobs, in addition to the current number of 240 employees.
TIER-1 automotive supplier CSABAcast Kft. supplies companies such as BMW, AUDI, Volkswagen, SEAT, SKODA, Daimler, General Motors, and Ford. Non-automotive companies CSABAcast supplies include BOSCH-Buderus Group and the MIELE Concern.
The main activity of CSABAcast is the production, surface treatment, machining and assembly of high-pressure aluminum die cases including, in particular, engine parts for the automotive industry.
In 2015, the company’s annual turnover exceeded HUF 10 bln, 95% of which came from export sales. The companyʼs export turnover increased by 16% and its domestic sales grew by 36.3%. Exports accounted for 92.1% of the total sales revenue in 2015.
HIPA stressed that the automotive sector in 2015 saw a record year with its output increasing by 17.6% as compared to the previous year, and its turnover reaching HUF 7.833 trillion. Currently, the total number of automotive companies present in Hungary is close to 700, including four car manufacturers (Audi, Mercedes, OPEL and Suzuki) and 43 of the world’s 100 largest TIER-1 suppliers.
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