Hungary's electronics maker Videoton to invest EUR 14.5 in expansion.

By bne IntelliNews August 12, 2011
Hungary's electronics maker Videoton plans to spend about HUF 4bn (EUR 14.5mn) on technology expansion, MTI news agency reported, citing the company's CEO Otto Sinko. The project will be carried out, regardless of the slower growth in the year so far, the chief executive was quoted as saying. Through the technology expansion, the company will be able to utilise more business opportunities, and improve its relations with both existing and new partners, Sinko added. Videoton employs 7,900 workers. Its turnover stood at EUR 312mn in 2010. Videoton operates 27 specialised medium-size subsidiaries, focusing mainly in automotive industry (38%), household appliances (24%) and industrial electronics (23%).

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