Ferro-Press invests HUF 2.8 bln in capacity expansion
Hungarian metal-working company Ferro-Press Fémipari Szolgáltató completed a HUF 2.8 bln capacity expansion at its base in Jászberény, eastern Hungary, the company said this weekend.
The 10,000 sqm production hall, warehouse and machinery investment was supported with a HUF 851 mln European Union and state grant. As a result of the investment, the company expects production growth at the plant and sees headcount increasing by 50 to 400.
Public records show that the company had after-tax profit of HUF 1.2 bln on revenue of HUF 12.7 bln in 2013, Hungarian news agency MTI said, adding that exports generated revenue of HUF 1.3 bln.
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.