Shoemaker Szamos invests HUF 131 mln

Telco

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Hungary-based shoe manufacturer Szamos Cipőipari has finished a HUF 131 mln capacity expansion investment at its factory in Csenger, Minister for National Economy Mihály Varga announced today, according to reports.

Varga’s ministry supported the investment with a HUF 65 mln grant within the framework of the government’s support program for big companies that are not eligible for European Union funding, Varga noted, according to Hungarian news agency MTI. 

The Hungarian firm, beyond supplying the domestic market, exports to Slovakia, Slovenia and Romania, said executive manager  János Juhász.

In 2015, Szamos had HUF 1.27 bln net sales revenue and posted a HUF 57 mln loss, MTI reported.

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