Hungarian bicycle company Neuzer is building a HUF 530 million plant in the Esztergom Industrial Park, north of Budapest, managing director András Neuzer told MTI.
Neuzer won HUF 100 million in grant money for the investment, Neuzer said. The plant will have capacity to turn out 800 bicycles in a single shift. It will have four production lines, instead of two, allowing the company more flexibility to fill orders.
The plant will have an area of 6,500 square meters, including 2,000 square meters of warehouse space.
Neuzer's output rose 10% in 2009 and revenue exceeded HUF 3 billion. It sold more than 100,000 bicycles, mainly in Western Europe.
The company has a unit in Romania which sells 8,000-10,000 bicycles annually. A Slovakian-owned company for whom Neuzer is the sole parts supplier sells 15,000 bicycles a year.
The company does not sign contracts for any more than 20,000 units as having many small business partners has made the business more stable, Neuzer said.
All of Neuzer's bicycles are developed in Hungary and the company offers new products each year. The company employs almost 160 staff. (MTI-Econews)