ADVERTISEMENT

Production to restart at troubled FEG Konvektorgyarto

Recycling

Production will soon restart at FEG Konvektorgyarto's gas heater, water boiler and stove plant in Ocsa, near Budapest, after MPF Holding, FEG's biggest creditor, reached an agreement with the troubled company's liquidator on renting the plant, MPF Holding owner Zsolt Felcsuti told MTI on Monday.

Workers are making preparations for production to restart at the plant from Monday, after a shutdown that lasted for months, Mr Felcsuti said. Production is expected to restart on September 1, he added.

MPF Holding started talks on taking over the operation of the plant after launching a liquidation procedure against FEG to reclaim about HUF 2 billion in unpaid loans.

FEG has annual turnover of HUF 6 billion-7 billion.

MPF Holding makes grinding tools, wrought iron fixtures and furniture. It has six plants in Hungary.

Number of Firms Working With Unis Doubles in 10 Years Figures

Number of Firms Working With Unis Doubles in 10 Years

AgMin Outlines Agricultural Priorities of Hungarian EU Presi... EU

AgMin Outlines Agricultural Priorities of Hungarian EU Presi...

Hungary R&D Spending Reaches HUF 1.032 tln in 2023 Science

Hungary R&D Spending Reaches HUF 1.032 tln in 2023

Verzió DocLab Calls for Submissions, Offers HBO Development ... Art

Verzió DocLab Calls for Submissions, Offers HBO Development ...

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.