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.
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.