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EGI expects revenue to double in 2006 on Chinese order

EGI Rt, a builder of cooling systems for power stations, expects its revenue to double to Ft 22 billion in 2006 because of a €22 million order from a Chinese power plant, president-CEO András Balogh said on Thursday.

Balogh said EGI would set up a unit in China to start selling parts in 2007. In the same year, EGI targets a 15%-20% revenue increase, because of big orders in Italy and Hungary, he added.
EGI, privatized in 1992, is a subsidiary of GEA Energy Technology. It is the leading company in Hungary providing cooling systems for power plants and the exclusive seller of Heller-Forgo cooling systems. On the global market, EGI sells 35% of all water-conserving cooling systems. Most of its exports go to the Middle East and China, but the company also delivers to countries in the EU. Exports account for 60% of the company’s revenue.
EGI employs 220 people at its plant in Jászberény, just east of Budapest.