Log Valve build new production hall in Lenti
Log Valve, a manufacturer of machinery for the oil and gas industries, carried out a HUF 376 million investment in Lenti, Hungary. The total costs of the investment amounted to HUF 376 million, according to Hungarian news agency MTI.
Equipped with an industrial crane, the 2,500-square-metre production hall, also houses a paint shop for the finishing of valves and fasteners manufactured at the company.
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The investment allows higher production capacities and the expansion of the company's product line, thus it further strengthens Log Valve's competitiveness on the international market.
Although the Lenti-based firm was founded in 2008, thanks to its legal predecessor the company has been expanding its expertise and network of partners for 15 years.
The company boasts a know-how that is unique in the domestic and international oil, gas and chemical industries, and is able to provide the expertise required from machine manufacturers in these sectors, the company added.
According to public company data, the revenues of Log Valve decreased from HUF 1.3 billion in 2013 to HUF 449 million last year, while after a profit HUF 332 million two years ago, the company closed 2014 with HUF 51 million in losses.
