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Surface finishing company Kenvéd completes HUF 376 mln investment

Telco

Hungaryʼs Kenvéd, a family-owned business that does surface finishing for companies in the automotive industry, has completed a HUF 376 million technology investment at its base in Győr, northwestern Hungary, financial director Katalin Szakál told Hungarian news agency MTI today.

European Union grant money covered almost 40% of the cost of the upgrade, which combined the companyʼs three production lines into a single automated line while also doubling capacity, Szakál said.

The investment will boost revenue of the production lines by 30% to HUF 200 mln this year, she added.

Last year, Kenvéd had revenue of about HUF 1.2 billion.

This year, the company plans to buy a €1.5 mln production base to expand further, Szakál said.

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