Hungarian- and German-owned farm machinery and vehicle maker AJG Agrogép on Tuesday laid the cornerstone of a HUF 200 million production hall at its base in Nyírtelek (NE Hungary).
A grant from the New Hungarian Development Plan is covering about half of the cost of the investment. The grant was awarded on the condition the company makes ten new hires and keeps the staff employed for three years.
The company expects to complete the 1,700 sqm production hall by the end of May, said managing director Géza Ferencz.
AJG Agrogep makes about 400 vehicles a year, exporting half, mainly to Romania and Slovakia. Last year it had revenue of HUF 1.5 billion.