PYLON-94 Machine and Steel Structure Manufacturing is spending HUF 250 million to expand capacity and boost efficiency at its base in Zalaegerszeg (W Hungary), business daily Napi Gazdaság reported on Wednesday.
PYLON-94 received a HUF 66 million grant for the investment, which includes construction of a 1,200-sqm factory and purchase of new machinery.
PYLON-94's revenue edged up to HUF 3.18 billion in 2010 from HUF 3.14 billion in 2009, but it closed the year in the red because of a big rise in the cost of raw materials. The company exports 90% of its output.
PYLON-94's capital expenditures came to almost HUF 220 million in 2009 and HUF 190 million in 2010.