Austrian building materials maker Wienerberger AG said Hungary is currently its “toughest” market in the CEE region, with Romania, Bulgaria and Poland being only slightly better off.
The company said that the total of apartments built in Hungary could fall 40% year-on-year in 2009. The group suffered losses of €143 million in Q2 globally.
The company said it would continue with its streamlining efforts worldwide closing several production bases in numerous locations.
It earlier made a commitment that these measures would not affect its Hungarian operations and that it would not dismiss any of the 600 people working for the firm in the country. (press release)