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German metals processor Mevaco GmbH will relocate some of its production to Hungary from Germany, Napi Gazdaság reported, citing a company executive.
The company will move some product development and the manufacture of processed metals to Mevaco Bored Plate Maker Kft, its local unit based in Szekszárd, south Hungary, Managing Director István Frei said. Mevaco is making the switch to Hungary because of lower costs and proximity to its customers in Eastern Europe, Frei said.
Mevaco Bored Plate Maker has begun a Ft 500 million investment this year to expand production and build a new office building by 2007.