Szeged-based Elcometal builds new production hall
Szeged-based bolts and connective parts manufacturer Elcometal Kft. has built a 1,600-square-metre production facility with an investment of nearly HUF 180 million.
The new production hall boasts a packaging unit required for export to the U.S. market and an R&D laboratory.
The Szeged-based company's products are fitted into the cars and trucks of Mazda, Toyota, Nissan and Audi. The new unit will allow orders for 5 to 12 million pieces and the company will be able to expand its staff of 40 by 10 to 12, reported Elcometal in a statement.
Hungarian-owned Elcometal Kft. has been operating in the automotive field for 25 years. 30 percent of the company's products are sold abroad, its main markets are Europe, the U.S. and South Africa.
In 2013, the company's net income increased from HUF 376 million registered in 2012 to 400.4 million. Last year, the company registered HUF 8.11 million in profits, down from 9.67 million booked the year before. Elcometal Kft. is currently negotiating with prospective partners and is expecting a 30-40 percent revenue increase as a result of new orders.
