EU Funding for Technology Modernization at Hídtechnika

Hídtechnika [Bridge Technology] Ltd. has won a non-refundable EU grant of HUF 204.18 million for technological modernization. The project aims to safeguard jobs, improve the company's productivity and expand its portfolio, the bridge renovation and construction company has announced.

The total cost of the development, supported under the Economic Development and Innovation Operational Program (Ginop) Plus, is HUF 291.69 million.

According to the announcement, the project aims to create the technological background for the company to exploit opportunities in new market segments. As part of the investment, the machinery of Hídtechnika Ltd. will be upgraded at the company's site in Apostag, Central Hungary, including the acquisition of machines for the fine movement of, for example, already completed bridge elements.

In addition, production processes will be mechanized to improve the company's resource efficiency and the quality of the products and services produced, leading to higher productivity. The project also includes employee language training and organizational development.

The company said that the development will contribute to the preservation of existing jobs and that the acquired equipment and machinery will enable the company to improve its market position in the bridge construction and rehabilitation segment. This is expected to increase employment, which will also contribute to the company's competitiveness and revenues.

It was also pointed out that the company's portfolio typically includes anti-salt coating works for reinforced concrete structures, waterproofing of reinforced concrete structures for bridge construction, civil engineering and steel structures, and corrosion protection works for steel structures. These actions increase the lifetime of bridges. Thanks to the project, they will become self-sufficient in further phases of bridge construction. 

Founded in 1991, Hídtechnika Ltd. concludes 20 to 30 contracts per year, the majority of which are for bridge construction and renovation. The company, which employs 24 people, is currently working on the renovation of the Chain Bridge in Budapest and the construction of the Kalocsa-Paks Danube Bridge.

In Hungary there are a number of construction companies active in the bridge building market. Hídtechnika Ltd. covers a fraction of the Hungarian order book, mainly with its specialist work.

According to publicly available data, the net turnover of Hídtechnika Ltd. was HUF 2.468 billion in 2021, down from HUF 2.208 billion in 2020. The company closed 2021 with a profit of HUF 1,073 million, compared to a profit after tax of HUF 76,350 million a year earlier.