Linamar eyes HUF 7.2 bln expansion in Hungary
Canada-based Linamar Hungary, a farm machinery and vehicle spare parts manufacturer, is planning to expand its Hungarian plants in Békéscsaba and Orosháza through an investment of HUF 7.2 billion, with a Hungarian government support of HUF 507.7 million, foreign ministry state secretary László Szabó said yesterday, according to reports.
The investment, which is scheduled to be carried out in two years, is expected to create 81 new jobs here, on top of the current staff of 2,500, Linamar Hungary CEO Csaba Havas was quoted as saying by Hungarian news agency MTI. The investment is expected to raise the companyʼs sales revenue by HUF 23 bln in five years, the CEO added.
The company exports more than 90% of its products; sales revenue exceeded HUF 47 bln last year, according to MTI.
Linamar paid Hungarian suppliers HUF 21 bln, MTI said, adding that the company completed HUF 5.3 bln of developments last year, and invested HUF 24 bln between 2010 and 2015.
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