Rába to launch HUF 10.5 bln technology development program

Telco

Hungarian automotive company Rába will launch a HUF 10.5 billion technology development program under a resolution adopted by shareholders at the companyʼs annual general meeting in Győr, Hungarian news agency MTI reported today.

The development, which will increase production capacity of the groupʼs axle division, is the first step in Rábaʼs strategy for the next 15 years. Preparations for the investment will start later this year and the project is scheduled to be completed in 2019.

Chairman-CEO István Pintér said at the AGM that Rába wants to strengthen its axle division in the future to help boost growth.

Rába managed to cut its net liabilities to a record HUF 4.3 bln in 2015, he added.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.