Kovács Vegyesipari launches HUF 600 mln capacity expansion
Hungarian-owned automotive industry supplier Kovács Vegyesipari launched a more than HUF 600 million investment on Friday that will add farm machinery and parts to its product palette, Hungarian news agency MTI reported.
A state grant for large companies that are not eligible for European Union funding is covering half of the cost of the investment, said Minister for National Economy Mihály Varga.
Kovács Vegyesipari had net profit of HUF 1.3 billion on revenue of HUF 10.6 bln in 2015. The company employs more than 400 people.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.