Alumetal completes HUF 9 bln investment
Poland-based aluminum manufacturer Alumetal has inaugurated a HUF 9 billion plant in the industrial park of Komárom, northwest of Budapest, Hungarian news agency MTI reported Friday. The investment is creating 150 jobs.
The Hungarian government supported the factory investment, the company’s first outside Poland, with subsidies and tax rebates not exceeding 35% of the projectʼs cost. The investment is foreseen to raise the group’s annual output by 60,000 tons, up to approximately 225,000 tons.
Alumetal will make aluminum castings for the automotive industry using recycled materials at the 24,000 square-meter plant, MTI reported.
The Alumetal Group had revenue of €277 mln in 2014, according to MTI.
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.