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German inductor maker Fastron is undertaking a HUF 500m expansion at its unit in Hungary, Fastron Hungária managing director Gábor Szűcs told MTI.
The investment, supported by HUF 115m in European Union funding, will boost capacity 10-15%, Szűcs said.
Fastron Hungária has committed to hire ten more staff over the next five years. About 500 people work at the company's base in Tolna (SW Hungary) at present.
Fastron expects to close 2011 with revenue of more than HUF 5bn, up from over HUF 4.5bn in 2010.