Wescast to invest HUF 4.8 bln
Car parts manufacturer Wescast plans to invest HUF 4.8 bln in machinery at its Hungarian production facility at Oroszlány (central Hungary) by the end of H2 2015, plant manager Gábor Matajsz told MTI yesterday. By 2020, a HUF 22 bln of investment is planned.
George Yang, vice president of the Wescast Group board said yesterday that, in 2014, they spent HUF 7.7 bln at their Hungarian plant on upgrades because of growing demand. According to the executive, 250 new employees will be hired by November.
Currently there are 1,450 people working for Wescast in Hungary, and this number is set to rise to 2500 by the end of 2020. Wescast expects to have net sales revenue of over HUF 28 bln this year and HUF 33 bln in 2015. The Canadian Wescast founded its Hungarian factory in 2000. Wescast was acquired by the Chinese Bohong Group in March 2013. Wescast fulfills all its European orders using its factory in Oroszlány.
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