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Ferro-Press invests HUF 2.8 bln in capacity expansion

Telco

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.

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