Adval Tech to invest HUF 2 billion in southwestern Hungary

"Swiss tool and subassembly manufacturer Adval Tech has announced plans to step up production in Hungary, thanks to steadily increasing demand for its products in the CEE region, business daily Napi Gazdaság reported.


In early May, Adval Tech acquired QSCH, a manufacturing and trading company based in Szekszárd, southwestern Hungary. The Swiss group is planning to use QSCH as a basis to develop its largest manufacturing plant and logistics center in the CEE region. In a few years from now, Szekszárd will be home to Adval Tech's entire plastics division and possibly a product development center as well.

These projects are estimated to require over HUF 2 billion in new investment, with staff headcount to double in 5 years. Adval Tech expects sales revenue to increase from the current HUF 14 million to HUF 40 million per year."

Source: Portfolio Online Financial Journal
13.08.2007