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Van De Velde to shut down plant in Hungary

Belgian-owned lingerie maker Van de Velde is shutting down its plant in Hungary because of a drop in orders, managing director István Márka said.

Van de Velde aims to cut back its production capacity and decided to close the plant in Hungary because there is no product development there and production costs are three times as much as at the company's second most expensive plant, Márka said. (MTI – Econews)