ADVERTISEMENT

Flabeg lays cornerstone of EUR 7m plant in NE Hungary

Recycling

German car mirror maker Flabeg Holding on Monday laid the cornerstone of a €7 million plant in Mateszalka (NE Hungary).

The 3,520sqm plant will be completed in the first quarter of 2012, said managing director of Flabeg's local unit Tamas Nagy. Flabeg is also making a €500,000 technology investment at its existing plant in Mateszalka, he added.

The new plant will double capacity at the Mateszalka base to an annual 12m mirrors. Before a fire in 2009, the base also turned out 12m mirrors a year as well as 2m instrument panels, generating revenue of more than € 19 million in 2008.

Flabeg wants to build another plant at the base by the end of 2013. The 2,000sqm plant would make base materials for mirrors that the unit imports from Germany at present.

About 250 people work at the base.

Flabeg Holding has 13 production bases in nine countries on three continents. The parent company had revenue of  €183 million last year.

ADVERTISEMENT

Pressure increasing on CFOs - PwC survey Analysis

Pressure increasing on CFOs - PwC survey

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Capital sees urban exodus during pandemic City

Capital sees urban exodus during pandemic

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.