Axiál Kft, which sells and services farm machinery, inaugurated a new €1 million service shop in Székesfehérvár on Thursday.
Family-owned Axiál is Hungary's market leader for farm machine parts, Claas combine harvesters and loaders. The company's 15 units around the country generate annual turnover of more than Ft 20 billion.
Minister of Agriculture József Gráf, speaking at the opening, said Ft 25 billion-Ft 30 billion in EU funding will be available to farmers for the purchase of new machinery in 2007, the first year of the 2007-2013 EU budget period. The subsidies should translate into purchases worth Ft 100 billion, he said.