Graboplast inaugurates premium products plant
Hungarian flooring manufacturer Graboplast today inaugurated a plant that will produce premium products at its base in Tatabánya, northwestern Hungary, Hungarian news agency MTI reported.
Graboplast was awarded HUF 3 billion in state support for the plant, with a commitment to create 120 jobs, Prime Minister Viktor Orbán said at the inauguration ceremony.
Tibor Veres, who heads Graboplastʼs parent company Wallis, said HUF 21 bln was invested in the company in the past 16 years. Graboplast ploughs back 3.5% of its revenue into R&D each year, he added.
Graboplast had revenue of HUF 18 bln last year, said chairman-CEO Péter Jancsó.
The market for the new plantʼs product, Luxury Vinyl Tile (LVT), is growing globally at a rate of over 10% per year.
Graboplast launched a HUF 1 bln investment program at its plant in Kecskémet, central Hungary, last November.
The company employs more than 600 people at its bases in Tatabánya, Kecskémet and Győr.
ADVERTISEMENT
IWG Opens New Regus Center in Biatorbágy
Parliament Negates Mandatory Membership in MOK
MNB Grants License to Local iBanFirst Fintech Branch
Meet the Expat CEO of the Year Nominees
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.
