Hungarian automotive industry supplier Dension Audio Systems' revenue fell 20% in 2010, business daily Világgazdaság said on Thursday.
Dension has not signed a new supplier contract in three years, managing director Attila Szijj told the paper. The company has to cut costs, narrow its product portfolio and finish up developments, he added.
Dension will cut its staff from 144 to 83 in 2011, Szijj said.
Dension returned to the American market this year and wants to enter the Austrian and Swiss markets in 2011. The company also aims to establish a retail network in France. (MTI-ECONEWS)