Toolstyle Szerszám- és Alkatrészgyártó Kft.[Tool and Spare Parts Production Ltd.], based in Miskolc, NE Hungary, has won EUR 119.26 million EU subsidies under the Széchenyi Plan Plus program, which will help it move towards robot-driven production, the company told the state news agency MTI.
According to the statement, the HUF 238.5 million investment will be used to install a third-generation, 5-axis machining center, welding system and welding machines, which will enable modern, automated, robot-driven production.
They added that the development will improve production processes, reduce scrap rates and allow high capacity, accurate and complex work processes to be run without constant worker supervision.
The project is scheduled for completion by the end of February 2024.
Toolstyle Ltd. was founded in Miskolc in 2000. Its initial machinery and a large part of its specialist staff were taken from the former military plant of the Diósgyőr Machine Works. In 2002, the company was acquired by the Franco-Hungarian M-Plus Group.
The company is active in sheet metal working and the production of components from sheet metal raw materials.
The company's annual net turnover was HUF 4.855 billion in 2020 and HUF 5.472 billion in 2021. Its net profit after tax was HUF 323 million in 2020 and HUF 324 million in 2021.
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