Hungarian steel maker invests EUR 20 mln in expansion

Recycling

Hungary-based steel product manufacturer OAM Ózdi Acélművek announced on Friday the launch of a EUR 20 million capacity expansion and technology development at its base in Ózd, which is expected to raise headcount by 100 from 450 at present, Hungarian news agency MTI reported.

The project is due to be completed by 2018, managing director Imre Bartha said. Annual capacity at the plant (about 155 km northeast of Budapest) is expected to increase from 200,000 to 300,000 tons.

The firm, owned by Germanyʼs Max Aicher, produces hot rolled reinforcing bars, round bars, wire rods and welded meshes, MTI said. This year, the company targets profit of EUR 10 mln on revenue of EUR 95 mln, Bartha added.

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