Auto supplier adds production space, jobs at plant in central Hungary

Jaroslaw Adamowski
EUROPEAN PLASTICS NEWS

Published: April 22, 2014 9:50 am ET
Updated: April 22, 2014 9:52 am ET

Related to this story

Topics Europe, Automotive

Automotive parts manufacturer Ábrahám Kft. has expanded its factory in Túrkéve, in central Hungary, with the launch of a new production hall as part of an investment worth 400 million Hungarian forints ($1.79 million).

The project will create 63 new jobs at the facility and allow the manufacturer to expand production of car parts with the use of plastics, including rearview mirrors, external brake lights and indicator lights, reported local news site Autopro.hu

The new 38,700-square-foot facility is to be fitted with state-of-the art injection molding machines, according to Károly Ábrahám, the company’s owner.

The plant’s expansion was supported by an investment grant of 143 million forints ($649,000) obtained from the Hungarian government, representing close to 36 percent of the total cost.

Speaking at the opening ceremony, Ábrahám said that the investment marks an important step for the manufacturer which manages to develop its production capacity despite the ongoing economic crisis.

For 2014, the Hungarian firm is expecting revenues of about $41.4 million, an increase of over 15 percent compared with sales of $35.9 million reported a year earlier.


Comments

Auto supplier adds production space, jobs at plant in central Hungary

Jaroslaw Adamowski
EUROPEAN PLASTICS NEWS

Published: April 22, 2014 9:50 am ET
Updated: April 22, 2014 9:52 am ET

Post Your Comments


Back to story


More stories

Image

Canadian mold maker Thibault adding to new operation in Mexico

August 27, 2014 3:19 pm ET

Canadian mold maker I Thibault Inc has purchased an established Mexican company, Tecnimoldes SA de CV, for a seven-figure-dollar-sum and renamed it...    More

Image

Romania's biggest PVC processor adding capacity, product lines

August 26, 2014 10:07 am ET

Romanian plastics manufacturer Teraplast SA has unveiled plans to invest 1.3 million euros ($1.7 million) this year to expand its output capacity and ...    More

Image

Sonoco buys Germany's Weidenhammer, plans for thin-walled packaging growth

August 25, 2014 1:41 pm ET

Sonoco Products Co.'s acquisition of Weidenhammer Packaging Group GmbH of Germany includes plastic packaging technology that the company is targeting ...    More

Image

Deceuninck buys PVC window maker Pimas, adds capacity in Turkey, Russia

August 25, 2014 2:26 pm ET

European building products manufacturer Deceuninck Group has acquired 81.2 percent of Pimas Plastik Insaat Malzemeleri AS, the leading PVC window...    More

Image

New contract for JCI workers heads off potential strike in Ontario

August 25, 2014 3:17 pm ET

About 300 unionized workers at a Johnson Controls Inc. interiors plant in Ontario ratified a new three-year contract, heading off a potential strike a...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events