Polish aluminium manufacturer to build plant in Hungary
Poland-based Alumetal is planning to build a new production unit in Hungary, announced company CEO Szymon Adamczyk on Monday at a press conference.
The company has three plants in Poland, the Hungarian unit will be the Alumetal's fourth location. The total costs of the investment will amount to HUF 10 billion (EUR 33 million). The expansion increases the company's current annual capacity of 165,000 tons to 210,000 tons.
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According to the company's plans, the first phase of the development project will be ready by the first half of 2016, while the second phase will be handed over in 2018.
Alumetal plans to finance the investment from its own resources but it is hoping to receive support from the EU and Hungary. Alumetal's products are delivered to automotive companies. The company's partners include German auto manufacturer giant Volkswagen.
