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MVM unit takes over production at power plant equipment maker - Világgazdaság

Ovit, a unit of the state-owned Hungarian Electricity Works (MVM), has taken over production at a power plant machinery maker owned by troubled TE Ganz-Röck, business daily Világgazdaság said on Monday.

Ovit started leasing the plant, in Kiskunfélegyháza (C Hungary) at the beginning of 2011, more than six months after TE Ganz-Rock, under liquidation, shut it down.

Ovit CEO Péter Gopcsa, who headed TE Ganz-Röck for five years, told the paper the plant was the only one in Hungary that can make the full range of power plant equipment.

Capacity at the plant is at 25-30% at present and just it employs just 21 people, but output will be increased and headcount could reach 100 by the end of the year, Gopcsa said.