Sematic undertakes HUF 1.6 bln expansion

Telco

Italian elevator component maker Sematic has started a HUF 1.6 bln expansion at its Hungarian base in Nyíregyháza, the local council of Sematic Hungária announced today.

The expansion includes a HUF 650 mln production hall fitted with approximately HUF 950 mln in equipment. The unit was supported by a HUF 433 mln European Union and state grant for the investment, which is expected to create 25 new jobs, on top of the current 170.

Last year, the unit made a total revenue of more than HUF 13.5 bln, and it is targeting 14.9 bln for the present year.

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