British-owned Doherty Hungary, a maker of precision engineered spindles and shafts for household appliances, vehicles and electronics, is spending more than HUF 283 million to expand capacity at its base in Orosháza (SE Hungary), financial director Mihály Varga told MTI on Thursday.
The company has won a HUF 113 million European Union grant for the project, Varga said.
Doherty Hungary employs more than 100 people to turn out 11-12 million units a year from 1,200 tons of feedstock. The new capacity will raise output by at least a million units a year.
The company had revenue of HUF 1.459 billion in 2010, up from HUF 1.249 billion in 2009.