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Eurotex signs deal to use high-tech Russian textile

Hungarian clothing company Eurotex on Wednesday signed an agreement with Hungarian-Russian joint venture Nanovo on the transfer of cutting-edge Russian textile technology that it will use to make its own premium line, managing director Árpád Rácz said.

Eurotex has invested HUF 172 million to put the technology, which was developed for the Russian space program, to use in its plant in Hódmezővásárhely (SE Hungary), Rácz said.

Eurotex, owned by Hungarian businessmen, employs 100 people and had net sales of HUF 600 million last year. (MTI-ECONEWS)