Sematic inaugurates HUF 1.5bn expansion in Hungary
Italian elevator component producer Sematic inaugurated a HUF 1.5 bln expansion at its Hungarian base in Nyíregyháza, northeast Hungary, today.
Sematic said it was awarded a HUF 433 mln European Union and state grant for the current investment.
As the result of the expansion, Sematic expects boost the unit’s revenue this year to reach HUF 14.9 bln, up from HUF 13.5 bln in last year, financial director Krisztina Bíró said. Profit is set to climb to HUF 2.4 bln from 1.3 bln, she added.
About 200 people work at the base.
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