Hungarian road haulage group Waberer's is merging its core activities into a holding company in the interest of cost efficiency and transparency, chairman-CEO György Waberer said at a press conference on Wednesday.
The move was proposed by Mid Europa Partners, a private equity company that acquired a little more than 49% of Waberer's earlier this year.
Layoffs will not be part of the restructuring, rather the company plans to make new hires as revenue is expected to climb 20% this year based on the first eight months, well over the 10-15% target, Waberer said.
Waberer's got a €17m capital injection in the spring. It will soon get another €13m.