"Germany-based Schmitz Cargobull AG, one of the largest trailer company in Europe, is to embark on an investment project in Hungary and spend several hundreds of millions on forints on the upgrade of its plant in Bicske.The parent company has recently decided to establish its Central and Eastern European training centre at its Hungarian unit and also to carry out capacity boosting investments, business daily Napi Gazdaság reported on Thursday. Schmitz Cargobull plans to double the area of its logistics centre and also to expand the plant and its services centre.
Emese Moehring, marketing director of Cargobull said the Hungarian developments also serve the group's aim to reach a 40% market share in Europe by 2010.
For next year Schmitz Cargobull pencilled in EUR 2 bn turnover and the production of 65,000 vehicles.
Schmitz Cargobull, which established its first Hungarian subsidiary in 2002, employs over 4,000 people and has production bases in Germany, Hungary, Durham (UK) and Zaragoza (Spain)."
Source: Portfolio Online Financial Journal
14.03.2008