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Femat to move all production to Hungarian unit

Austrian production line systems maker Femat will move its entire production to its unit in Hungary to take advantage of lower production costs, business daily Napi Gazdaság reported on Tuesday.

Femat will close its factory in Austria after the move and invest Ft 400 million at the Hungarian unit, managing director of Femat Hungária Kft László Takács told the paper. The company will also hire more workers at the unit. Currently, Femat Hungária employs 150 people.
Femat started developing its Hungarian unit already in 2004, boosting production and building new warehouse space. Femat Hungária expects to close 2006 with revenue of Ft 1.5 billion. In addition to the automotive industry, Femat supplies machinery makers and printing companies.