Mapei Kft is preparing to make a Ft 1 billion (€3.9 million) investment designed to expand its Hungarian production base, managing director Béla Markovics said in Budapest on Wednesday.
The Italian family-owned Mapei, which produces chemicals for use in the construction sector, began operating in Hungary in 1991. The company has spent Ft 1.4 billion on developments over the past five years, including construction of its production base in Sóskút. The Hungarian subsidiary projects sales revenue of close to Ft 5 billion in 2006. The subsidiary produces a total of 37,000 tons of products annually. The new investment is expected to generate increased production exceeding 60,000 tons in 2008.
The Hungarian subsidiary supplies constructions chemicals to neighboring countries such Romania, Serbia, Croatia and Ukraine. The company currently engages 109 employees and expects the new investment to create 19 new workplaces. Mapei Kft won the title of Best Workplace in the SME category this year based on a HVG-Hewitt survey.
The Mapei Group had sales revenue of more than €1 billion last year. The group employs 4,800 workers, 12% of whom are engaged in research positions. The group spends 5% of its annual turnover on R&D.