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.
ADVERTISEMENT
ÁKK Cutting Premiums on PMÁP
Parl't Approves Amendments to Legislation on Judiciary
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.
