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Alumetal completes HUF 9 bln investment

Recycling

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.

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