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Axiál reaps high growth

Agricultural machine parts distributor and service company Axiál Kft increased its turnover by 37% last year, from Ft 20.2 billion to Ft 27.7 billion, company owner and CEO Zsolt Harsányi announced yesterday.

The 2005 investment in agricultural machines was Ft 68 billion countrywide, which is a significant growth compared to the 2004 figure of Ft 49 billion but is still behind the Ft 115.3 billion spent in 2003. Experts predict a similar investment amount for this year as in 2005. The total agricultural machine part market was around Ft 17 billion-Ft 19 billion last year. Axiál's market share has remained over 50% and is currently at Ft 9.3 billion.