Leier to spend euro 80 million-100 million on renovation
Thursday, August 4, 2005, 16:37
Austrian holding company Leier said it is spending euro 80 million-100 million to renovate the old Frigyes barracks in Győr (NW Hungary) it recently bought for an undisclosed sum, business daily Világgazdaság reported. Leier plans to turn the property into a business centre. Leier has invested about euro 100 million in Hungary in the last 20 years. Its operations here include five concrete factories, three brick factories and a car dealership. Last year alone, Leier invested euro 20 million in Hungary -- over half of its total investments -- to increase capacity at its existing concrete plant at the Devecser brick factory. Trial runs have just started in a new concrete factory in Jánoshaza. Leier had total revenue of euro 105 million last year, of which revenue from its Hungarian units accounted for 60 %. Leier also has plants in Austria and Poland. The company employs a total of 2,000 people.