Mapei Hungary sales climb 9% in 2011

Deals

Sales of the Hungarian unit of Italian building material company Mapei climbed 9% to HUF 5.5 billion in 2011, the unit's managing director Béla Markovich said at a press conference on Tuesday.

Markovich contrasted the increase with the 7.8% contraction of the construction sector, the 39% drop in the number of completed homes and the 28% fall in the number of building permits issued.

He said a HUF 400 billion "chain of debt" in the sector posed an even bigger problem.

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