US-based thermal systems maker Modine Manufacturing inaugurated the production hall of a $12 million plant in Gyöngyös (NE Hungary).
The 6,000-square-meter plant will start making parts for vehicle cooling systems in 2009. All of the plant's output will be exported, three-fourths to the EU.
The plant is Modine's second in Hungary. Its plant in Mezőkövesd (NE Hungary) makes cooling systems for vehicle lubricants, exhausts and transmissions. The plant employs 260 workers.
The new plant will staff 50 workers when it starts operating, but the number will rise to 150 by 2014.
With the new plant, Modine Hungária plans to double its revenue over last year's Ft 20 billion, said plant director Géza Szakács. Modine picked Gyöngyös for the plant because of its proximity to its plant in Mezőkövesd as well as to the M3 motorway, he added. (MTI – Econews)