Car and electronics industry subcontractor Provertha Electronic Components Rt will carry out a €8 million-€9 million investment in Hungary, business daily Napi Gazdaság reported.
The company has three premises in Beled, Sárvár and Kapuvár, all in northwestern Hungary. The location for the investment has not been decided yet, chairman of the board Antal Szalay said. The extension of production capacity is necessary because of new orders from car manufacturers. Besides that, about 15% of the existing capacity may be moved abroad, but that is also undecided, Szalay added.
The Hungarian subsidiary of German Provertha GmbH, set up in 1993, currently has 700 employees. Provertha Hungary had over Ft 4 billion net revenue last year.