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Ammunition company in central Hungary to be liquidated

Ammunition maker Rexplo 21 Lőpor Termelő es Kereskedelmi Kft will be liquidated, Bailiff Magdolna Vass told MTI on Monday evening. The Veszprém County Court has started liquidation procedures against the company at the request of the company's creditors in early November.

Vass declined to reveal details regarding Rexplo 21's financial circumstances or the claims of the company's creditors.

Rexplo 21, which is located in Balatonfűzfő (C Hungary), has laid off all 45 of the company's employees for the duration of the liquidation procedure.

The ammunition plant was part of the company Nitrokemia until 2004, was taken over by Rexplo 21, before it was purchased by the Russian-Hungarian joint venture Milrus-Service. (MTI Econews)