Hungarian shoe company Szamos Cipő is spending more than HUF 1 billion to expand capacity at its plant to fill growing orders from German partner Josef Seibel, business daily Világgazdaság reported on Wednesday.
Szamos Cipő expects to complete a 1,800-square-meter production hall at its factory in Csenger at the end of January and start using the new capacity by March, managing director and majority owner Janos Juhazs told the paper.
European Union and state grant money covered half of the cost of the investment, he added.
Szamos Cipő has made an annual average 900,000 pairs of shoes for Josef Seibel for years. But the number could rise to 1.5 million pair in 2011.
Szamos Cipő will hire 50 more people to work in the new production hall, bringing total headcount to 600. (MTI-ECONEWS)