Videoton to build new production facility in Székesfehérvár
Electronics manufacturer Videoton EAS on Tuesday laid the cornerstone for a HUF 5 billion production hall in Székesfehérvár. The company will spend a further HUF 2-2.5 bln on technological developments at the new 20,000 square-meter unit.
The investment will be financed from internal funds, national news agency MTI reports.
Managing Director Csaba Klambauer said the company currently employs 770 workers in two production halls with a combined area of 17,000 sqms. The new building, scheduled to be completed by the end of 2018, will include 8,500 sqms of production space and 4,500 sqms of warehouse area. The headcount is expected to exceed 1,000 by 2019, Klambauer added.
Revenue is expected to increase from EUR 70 million a year to EUR 100 mln by 2019 as a result of the investment.
Co-CEO Ottó Sinkó said Videoton Autoelektronika, another unit of Videoton Holding, has also outgrown its current premises and will be able to expand its assembly capacity in the old building released by the investment. He said the two units will contribute HUF 75 bln to the holding companyʼs total revenue this year.
Videoton Holding projects consolidated revenues of more than HUF 170 bln in 2017, and plans to spend HUF 12 bln on investments in 2018.
In 2016, Videoton Holding had consolidated revenues of HUF 160 bln.
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