Czech bathtub and shower enclosure maker Ravak plans to build a Ft 3 billion office, warehouse and trade center in Budapest, managing director of Ravak Hungary Kft László Vajónyi announced on Monday.
The center is expected to be completed by the autumn of 2008, Vajányi said. Ravak is the biggest maker of bathtubs and shower enclosures in Central and Eastern Europe. In Hungary, it controls 25%-28% of the market, selling 800 different products from its 8,600-square-meter warehouse in Budapest.
Ravak Hungary expects to close 2006 with revenue of Ft 1.7 billion, Ft 400 million more than in 2005. The unit targets revenue of Ft 2 billion in 2007.
Ravak has units in 12 countries, including China and Dubai. It sells its products in 30 countries around the world generating annual sales of more than €58 million.