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Foundry completes HUF 100 mln development

Specialty metal products maker Magyarmet Finomöntöde Bt has carried out a development worth around HUF 100m at its site in Bicske (W of the capital), approximately doubling production capacity, managing director Imre Győri told MTI on Wednesday.

As a result of the investment, the company will be able to meet any demands from Audi, Mercedes or General Motors, he added.

The company, which currently employs 175 workers, had revenue of HUF 2.4bn last year, and projects revenue of HUF 2.7bn for this year with substantial profit.