Axiál Kft, a company selling and servicing farm machinery, plans to build a Ft 1 billion logistics center at its base in Baja, south Hungary, business daily Napi Gazdaság reported on Tuesday.
The facility will be completed by November, Axiál marketing director László Hatala said. SSI Schafer will supply equipment for the warehouse and Délity Rt will supply furniture.
Axiál plans to hire more staff because of the investment, Hatala said. He noted that Axiál opened a financial services unit on the site, which is its regional center, on June 1. Axiál had revenue of Ft 27.7 billion in 2005, 37% more than in 2004. However, its share of the market increased at a slower pace. Axiál controlled 33% of the market for harvester machines, up from 32% in 2004, and it had 32% of the market for western-made tractors, up from 22.5%. The company's share of the market for forklift loaders rose to 50% from 46%. Axiál had revenue from the sale of farming machine parts of Ft 9.3 billion in 2005, giving it more than half of the market.