Flame Spray Hungary inaugurates HUF 500 mln expansion
Italian-owned turbine coating maker Flame Spray Hungary, inaugurated a HUF 500 mln expansion at its base in Szada, near Budapest, on Saturday.
Flame Spray Hungary had a revenue of €13.2 mln in 2013, and is planning to raise the measure to €20 mln by 2017 as the result of the current expansion, financial director Anna Lipták said. The company already employs 94 people and expects to raise the number to 133 by 2017.
The company is purchasing machinery worth approximately HUF 440 mln by the end of this year to meet the aim of 2017, for which the company received a grant of HUF 176 mln.
Lipták reiterated that the company has invested a total €18 mln since 2002.
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