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Dutch investment group rescues former Hungarian unit

  The former Hungarian unit of German motor home maker Knaus Tabbert will restart production thanks to a cash injection from its new owner, the Dutch investment group HTP, and an order for 200 vehicles, business daily Világgazdaság reported on Tuesday.

Production at Hungary’s Knaus Tabbert shut down in September after its parent company went bankrupt. In January, it was acquired by HTP, which injected €500,000 into the company, allowing it to pay its suppliers.

HTP also paid off the company’s €1.4 million in loans, managing director József Botka told Világgazdaság.

The orders will be enough to keep production going until the need of the year, he added. In spite of the new order, Knaus Tabbert will lay off 153 of its 270 staff from March 10.

Knauss Tabbert made 4,790 camper-trailers and 420 campers in 2008. Revenue came to HUF 3.42 billion in its business year ended July 31, 2008. (MTI-Eco)