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Strategic investor rescues Eybl Hungaria

Hungarian automotive industry company Car-INside on Monday signed a contract to take over the assets and stocks, as well as the operation, of Eybl Hungaria, the Hungarian unit of bankrupt Austrian peer Eybl, Jenő Varga, the bailiff in charge of Eybl Hungaria's liquidation said.

Car-INside plans to keep all 600 of Eybl Hungaria's staff, and it expects to make new hires in the long term at the company's plants in Jánosháza, Lenti, Nagkanizsa and Körmend, Varga said.

Varga declined to reveal the cost of the transaction but called it a "realistic price" in light of the crisis in the automotive sector.

Eybl Hungaria, which makes seat covers and carpets for cars, laid off almost a thousand workers after it went under liquidation in January, but production kept going. (MTI-Econews)