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Raba signs EUR 25m contract with

Hungarian automotive industry supplier Raba on Monday said it signed a three-year contract worth almost EUR 25m to deliver axle parts to a "major truck maker".

"On the basis of the favorable market trends and the increasing customer demand, the supplier contract targets a sales volume that is considerably higher than in the previous years," the company said.

"The fact that we have earned the trust of the premium commercial vehicle producer indicates the rightness of our strategy and effectiveness of its implementation. It proves that our competitive solutions can meet even the highest requirements of the customers," said Chairman-CEO Istvan Pinter.