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Videoton company becomes supplier to Germany's Moeller

Automotive supplier Videoton Metal, a member of the Hungarian Videoton group has signed a contract to supply electric parts to Germany's Moeller, owned by the US Eaton Corporation, managing director Norbert Kiss told MTI. The project will generate annual turnover of HUF 400 million for Videoton Metal.

The Hungarian metal working company, which employs 320 workers and generates turnover of €15 million per year, is to supply parts to its new partner's plant in Holzhausen, Germany.

Kiss said the company has implemented a HUF 50 million technological development in order to win the contract.

Moeller, founded in 1998, has been a leader in power distribution and automation. It has been part of the US Eaton group, Videoton's long-time strategic customer, since May. V(MTI-ECONEWS)