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Coloplast signs for state subsidies to support €100 mln investment

Danish medical supplies company Coloplast on Monday signed a contract for state subsidies it will put toward a €100 million expansion at its unit in Hungary, Coloplast vice president John Raabo Nielsen and Minister of Economy and Transport János Kóka announced on Monday.

The developments will be carried out at Coloplast Kft's plant in Tatabánya, northwest Hungary and at a new unit in Szabolcs-Szatmár-Bereg county in northeast Hungary. The investment will create 1,000 new jobs, including at least 600 in the latter, less developed region. Coloplast already employs 900 people at the Tatabánya plant.
Coloplast set up its plant in Tatabánya in 2000, leasing a factory until 2002, before completing its own 10,000 square meter facility. Coloplast built another two plants of the same size in 2003 and 2004.
The amount of the subsidy granted to Coloplast will be published in 60 days, in line with EU regulations, Kóka told the press.