Gemtech to spend HUF 1bln on capacity expansion
Machinery company Gemtech will spend almost HUF 1 billion on purchasing machinery to expand production capacity in Napkor (249 km northeast of Budapest), the company told MTI yesterday.
Gemtech has won a HUF 498 million European Union grant for the project. The company is expected to retain 70 jobs as a result of the new investment.
Gemtech had after-tax profit of HUF 503 mln on revenue of HUF 3.4 bln last year, according to public records.
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