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Hu billioner tops out €11 mln capacity expansion in Hungary

German-owned transport industry supplier Hu billioner on Thursday topped out a €11 million expansion at its base in the Hungarian city of Nyíregyhaza.

When the expansion is completed, the company's capacity in Hungary will match that at its headquarters in Kassel.

Hu billioner is building a new production hall at the base and expanding an existing one. The expansion will be completed by the end of April and the new production hall will be ready by the beginning of June.

The expansion and the building of the production halls will cost €5 million and they will spend another €6 million on equipment and machines.

They have already made 20 new hires and plan to make 30 more by June. The plant employes 400 at present.

The expansion is expected to boost annual revenue of the unit from €28 million last year to €35 million within five years.