Cabero Industrial begins construction of HUF 1.4bn plant in SW Hungary
German-owned Cabero Industrial Kft has begun construction of a HUF 1.4bn plant in Kaposvár (SW Hungary) to produce industrial heat exchangers and industrial refrigerators, owner/managing director Laurentino Cabero-Meindl said on Wednesday after the cornerstone for the plant was laid.
The company received HUF 629m in European Union funding for construction of the plant.
In the first phase of the project construction of a 10,000-square-meter plant is scheduled to be completed by summer 2012. The company plans a further, 5,000-square-meter expansion of the plant in the future.
The plant will initially employ 70 workers, which could rise to 130 in two years and to 300 within five years if the economic climate is suitable. The plant will sell its products on export markets, mainly in Europe and the Middle East.
Cabero decided in 2009 to build another production base in addition to its plant in Magócs (S Hungary), which has been operating since 1996.
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.