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Musashi Hungary to complete €8.5 mln expansion in H1 2008

Japan's Musashi plans to complete a €8.5 million (Ft 2.18 billion) capacity expansion started at its unit in Hungary in the summer by the first half of 2008, business daily Világgazdaság reported on Friday.

Musashi Hungary Industrial Kft is installing new production lines to make ball-and-socket joints and swinging levers for Fiat and Audi, CFO Krisztina Gulyás told the paper. The lines are being installed at a production hall Musashi built at its base in Ercsi, south of Budapest, for €7.5 million in 2004. The unit plans to increase its staff by 10% from the current 340 to man the new lines. This summer, Musashi completed another capacity expansion for €1.5 million.
Musashi had revenue of Ft 35 billion in 2005, up from Ft 28 billion in 2004 and Ft 2 billion over the target as the result of earlier capacity expansions. The unit expects to close 2006 with revenue of Ft 38 billion.