Tile maker Zalakerámia Zrt plans to spend Ft 1 billion to expand capacity at one of its plants and rebuild another, business daily Napi Gazdaság reported on Tuesday.
Zalakerámia will double the capacity of its plant in Romhány, north of Budapest, from the current 1.9 million square meters per year. It will also rebuild its plant in Tófej, southwest Hungary. The plant has annual capacity of 5.15 million square meters.
Zalakerámia plans to expand its range of products as part of the project, president-CEO Péter Márton told the paper. Zalakerámia will pay for the investments mostly with loans. The company will not hire any more employees because of the investment, Márton said.
Zalakerámia shares were delisted from the Budapest Stock Exchange (BÉT) in August 2005 after a buyout by its Austrian majority owner Lasselsberger.