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Szelepkutató Fejlesztési spends HUF 537 mln to develop new valves

Telco

Hungarian valve manufacturer Szelepkutató Fejlesztési, will spend HUF 537 mln on the development of a new line of cost-efficient products, the company told Hungarian news agency MTI.

The firm’s R&D project is being realized with the support of a HUF 220 mln European Union grant, and is expected to be completed in the second half of 2016.

The new products include a next generation safety valve, a programmable plunger valve, a multifunctional valve for lavatories and an automated faucet, the company said.

The company saw a revenue of HUF 44 mln last year and has a headcount of ten, MTI said.

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