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Hagebau to enter Hungarian market

Hagebau, Austria’s leading construction material distributor, plans to establish a network of 70 units in Hungary, business daily Világgazdaság reported, citing an interview in Austrian business weekly Wirtschaftsblatt. The Hungarian units, to be set up by 2008, are expected to bring revenue of €120 million (Ft 30 billion) annually, CEO Emil Koprivc said.

Hagebau bought Pécs-based construction material distributor Tüzépker Rt and Kecskemét-based Dutker Kft earlier this year. The company decided on expansion in the CEE region, and Hungary within that, after its sales fell on the oversaturated Austrian market. Hagebau had revenue of €1.19 billion last year.