Kravtex expects profitable year in spite of declining orders for buses

Initiatives

Hungarian bus maker Kravtex expects to turn a profit in 2011 in spite of a decline in bus production this year as export commission work and demand for the company’s agricultural machinery rose, Kravtex Commercial Director Jozsef Stemler told MTI on Wednesday.

The company will produce less than a hundred buses this year after 120 last year.

Mr Stemler told MTI that Kravtex aims to sell its articulated Credo Citadell 19 bus for use in the Budapest public-transport system after more than 10,000km in test driving proved that the model is appropriate for use in city conditions. Kravtex have sold buses for the regional Volan bus companies.

Mr Stemler said Kravtex expects to generate consolidated turnover of HUF 6.5bn this year.

Kravtex, which employs 450 workers, plans to spend more than HUF 500m on investments this year, Mr Stemler noted.

Kravtex Group consists of the Kravtex bus factory in Gyor (NW Hungary) and the Kühne Agricultural Machinery Company and Kühne Iron Foundry in Mosonmagyarovar (NW Hungary).

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