Wahl Hungaria to expand production capacity with EU and gov’t funding
US-owned Wahl Hungaria Kft (Mosonmagyarovar, NW Hungary), which makes products for the beauty and hairdressing industry, will build a new 2,400sqm production unit and purchase new equipment through an investment of HUF 980m, the company told MTI on Wednesday.
The company said it had won a grant of HUF 295m in European Union and government funding through the New Szechenyi Plan for the development.
The project was started in February 2011 and is scheduled to be completed by February 15, 2013.
The production unit is to be completed by early 2012.
Headcount is expected to be increased by 100 from the current 350 in the coming years.
Wahl Hungaria Kft. was established in 1993 and had revenue of €22m in 2010 and 2011, with exports accounting for €21m.
ADVERTISEMENT
Minister Asks Banks to Introduce Voluntary Rate Caps
Gov't Raises 2023 Deficit Target to 5.2% of GDP
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
