The expansion, for which the Hungarian company is using internal financing, is expected to be wound up in the first half of 2016, MTI reported. CEO Csaba Süle told the news agency that the Mosonmagyaróvár factory will be Hungaryʼs largest bus plant once the expansion is complete.
Kravtex-Kühne group, the manufacturer of Credo buses since 1999, is preparing for the liberalization of the market of long-distance passenger transport, planned for 2017, with the development, Süle said. The company hopes to sell at least 100-120 buses a year, the CEO added.
The company, which is Hungaryʼs oldest machine factory, due to celebrate its 160th anniversary next year, employs approximately 300 workers in Mosonmagyaróvár. The CEO said Kühne plans a slight increase in its revenue in 2015 from HUF 2.5 bln reported in 2014, while profits reached HUF 370 mln last year, MTI said.
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