German electronics manufacturer Provertha GmbH has announced plans to set up a new plastic galvanizing plant at the Kapuvár Industrial Park, in northwestern Hungary. The production facility is designed to have a production space of about 38,700 square feet, reports local news site Autopro.hu.
The project is estimated to be worth some 1.8 billion Hungarian forints ($8.14 million). The manufacturer has obtained a 500 million forint ($2.2 million) regional development grant provided by the European Union to carry out its investment. This represents close to 28 percent of the total amount.
Pforzheim, Germany-based Provertha's plastic molding operations include the manufacturing of insulators for connectors, chassis for cable assemblies, glossy surfaces, molding of components, as well as molding of electronic components with macromelt, according to data released by the firm.
Construction works at the facility in are expected to begin this May. Under the plan, Provertha will launch its new plant in June 2015.
The latest investment is developed by the company's subsidiary Provertha Zrt. In addition to two plants in Germany and Kapuvár, the manufacturer operates a further two Hungary-based facilities in Sárvár and Beled.