Hungarian automotive industry supplier Kókai Tömítéstechnikai on Wednesday inaugurated a €1 million production hall at its base in Ajka (NW Hungary).
Kókai Tömítéstechnikai, which makes rubber parts for cars, won a HUF 100 million grant for the 2,500-sqm hall.
Headcount at the plant is up 50 from last year at 250, said managing director Mátyás Kókai. The company plans to make almost 100 new hires over the next two years, he added.
Kókai Tömítéstechnikai expects revenue to rise to HUF 3 billion in 2011 from HUF 2.6 billion in 2010, he said. The company had after-tax profit of HUF 600 million in 2010, he added.
Exports generate half of the company's revenue.