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Hungary’s Videoton: Ft 2 bln investment in Kaposvár

Videoton Holding Zrt is implementing a new production program at its Kaposvár unit, according to daily Napi Gazdaság.

Videoton Elektro-Plast Kft is to manufacture household equipment (irons) for Braun. Ottó Sinkó, director of Videoton Holding Zrt did not comment on this information, but informed that the Ft 2 billion (€7.7 million $10 million), Kaposvár investment involves expanding the site by a 5000 sq. meters area and hiring 200-250 more staff. New production program is to start in Q3.

Videoton Elektro-Plast Kft has co-manufactured electronic accessories with Eaton Electric B.V. in Kaposvár, and is a supplier for Philips DAP’s Klagenfurt site. Videoton Holding has co-manufactured electronic products with Braun in its Stara Zagora (Bulgaria) site as well. The company’s net turnover increased by 25% to Ft 73 billion (€280 million, $377 million) in 2006. However, high profit expectations are discouraged by strong forint. (Napi Gazdaság)