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Lathing company inaugurates HUF 219 mln plant

Hungarian lathing company Babits has inaugurated a HUF 219 million plant in the Esztergom Industrial Park, north of Budapest, managing director Mihaly Babits told MTI on Thursday.

The 800sqm plant was built on a 6,000sqm plot the family-owned company bought in the park, Babits said. European Union funding covered almost HUF 70 million of the cost of the investment, he added.

Babits expects revenue this year to climb 10% over the HUF 130 million, in 2010.