Grundfos to build HUF 9bn plant in Hungary
Danish pump maker Grundfos will build a HUF 9bn plant in Szekesfehervar, its fourth in Hungary, Grundfos Magyarorszag managing director Laszlo Torok announced on Friday.
Grundfos will spend about HUF 4bn to build the 15,000sqm plant in 2012 and 2013 and a further HUF 4bn-5bn on equipment in the following years, Mr Torok said. About 400 people will work at the plant by 2015, he added.
Grundfos will make giant industrial pumps at the plant, a new activity for the company. It expects most orders for the pumps to come from Russia, Eastern Europe and South Korea.
Grundfos Magyarorszag expects to close 2011 with revenue of HUF 106bn, up from almost HUF 90bn in 2010.
The unit employs 1,900 people on a combined production area of 65,000sqm.
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