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Betontherm forced into liquidation with HUF 1.5 bln debt

East Hungarian construction company Betontherm Kft has been put into liquidation by a court order after the company piled up debts of close to HUF 1.5 billion.

Based in Eger, Betontherm was set up as a sole proprietorship in 1996 and grew into a billion-forint business by 2003.

The company had after-tax profit of HUF 47 million in 2007 and HUF 32 million in 2008, which plunged to HUF 6 million in 2009 as a result of the global recession.

The first payment order against Betontherm was issued by the court at the end of last year.