US-based Neo Industries on Friday inaugurated an engineering hard chrome plating and electro discharge texturing plant at the cold rolled steel base of Hungary's ISD Dunaferr (C Hungary).
Neo Industries paid for plant and is its owner, but ISD Dunaferr provided the space as well as access to markets. Neo Industries unit Neo Hungary will operate the plant in part with labor contracted from Dunaferr.
ISD Dunaferr had revenue of HUF more than HUF 258 billion in 2010, according to preliminary estimates, up from HUF 192 billion in 2009. Exports generated HUF 65% of revenue last year.