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Fastron to expand plant and staff

Budapest-based car industry electronics subcontractor Fastron Hungária Kft is expanding production at Tolna site in south-west Hungary to meeting rising demand, daily Napi Gazdaság reported, without citing a source.

Fastron, which manufactures inductive components and high precision sheet metal products mainly for the German, Dutch and Belgian markets, is planning to build a new plant and logistics facility in a HUF 300 million plus investment. 

The company has added nearly a hundred staff to its 500-strong headcount since September this year and plans to hire more employees as part of the investment. Fastron, which was set up in 1992, saw a steep HUF 1 billion decline in net revenues last year although its bottom line rose HUF 57 million to HUF 201 million. (BBJ)