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Legrand plans to invest Ft 1.4 bln at Hungarian unit in 2007

France's Legrand, the world's leading maker of wiring systems for buildings, plans to invest Ft 1.4 billion at its Hungarian unit in 2007, following investments of Ft 1 billion in 2006, the unit's CEO László Károlyi said on Tuesday.

Legrand will increase its staff by 40 as a result of the investments, Károlyi said. In 2006, the unit raised its number of workers from 325 to 362. Some of the unit's staff are involved in product development, Károlyi noted. Legrand Magyarország plans to close 2006 with revenue of Ft 12.9 billion, up from Ft 9.4 billion in 2005, Károloyi said. In 2007, the unit targets revenue of Ft 17.2 billion. Exports accounted for 87% of revenue in 2006, up from 76% in 2005. And in 2007, exports are expected to generate 90% of revenue. (Mti-Eco)