Hungarian-owned surgical and dental implant maker Sanatmetal on Tuesday inaugurated a HUF 700 million investment at its base in Eger, company officials said on Tuesday.
Sanatmetal converted a former auto mechanic's shop into a production hall and added 20 new machines to its fleet, said managing director József Farkas. The company won a HUF 320 million grant in the framework of the New Széchenyi Plan for the investment, he added.
Sanatmetal will make 20 new hires as a result. About 250 people work for the plant at present.
Sanatmetal has made almost HUF 4.5 billion of investments since it was established in 1992. It started making bone and spine implants, then added hip and knee prosthetics to its product palette. Most recently, it started making dental implants.
Sanatmetal targets revenue of HUF 2.9 billion this year, up from HUF 2.65 billion in 2011, Farkas said.
The company is among the biggest 40 makers of orthopedic and traumatology devices in the European Union.
Material and energy costs account for about 20% of the value of the company's products. The rest is added value.