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Musashi Hungary expects 2005 revenue to rise to €33 mln

The Hungarian unit of Japanese car parts maker Musashi expects revenue of €33 million this year, up from €28 million in 2004, Musashi Hungary CFO Krisztina Gulyás announced on Saturday. Last year, 60% of turnover came from orders for camshafts from FIAT, Gulyás said. Musashi spent €8 million to outfit its plant south of Budapest with new machines last year. This year, the company is spending another €1.5 million to expand capacity. Musashi Hungary's 270 employees make parts for FIAT, Audi, Daimler-Chrysler and Honda.