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Obo Bettermann plans HUF 1.5 bln base expansion

The Hungarian unit of Germany's Obo Bettermann, which makes electric and data routing systems, plans to spend HUF 1.5 billion to build two new production halls at its manufacturing base near Budapest this year, managing director Lajos Hernádi told MTI.

Obo Bettermann will spend a further HUF 1 billion on equipment for the production halls, Hernádi said. The company will add 150 staff to man the halls. Currently, 550 employees work at the base. The production halls, which have a total area of 13,000 square meters, are expected to be completed this year.

Hernádi told MTI that the company has received government industrial park development funds to cover 30% of the investment.

 Obo Bettermann has invested HUF 8 billion at its base near Budapest since it was established in 1993.

This year, the company targets revenue of HUF 11 billion, up from HUF 10 billion in 2008. Exports generate most revenue. (MTI – Econews)