UK-based metal finishing company Rimex plans to spend Ft 2 billion to build a production base in Nagykanizsa in southwest Hungary, business daily Napi Gazdaság reported on Tuesday.
Rimex will start building a 4,000-square-meter factory and a warehouse on a 1.5-hectare plot in the city's industrial park next year, managing director of the park Gábor Szanyi told the paper. The buildings, which make up the first phase of the investment, will cost Ft 500 million-Ft 600 million. Rimex will expand production at the site in the second phase, Szanyi said. The plant will employ 25-30 staff at the start, but this number will reach 80-100 later on.
Szanyi noted that Rimex had picked Hungary not only because of its low labor costs, but also because of the increasing demand for its products in the region. Rimex makes finishes on stainless steel surfaces used by vehicle makers and builders.