Fux Inaugurates HUF 2 Billion Production Hall

Cable maker Fux inaugurated a HUF 2 billion production hall at its base in Miskolc (NE Hungary) on Thursday.

Hungarian taxpayers covered 10% of the costs as the government provided HUF 200 million of non-refundable funding to the project through the Demján Sándor Program matching support scheme.

At the inauguration ceremony, National Economy Minister Márton Nagy was quoted by MTI as saying that Fux is a competitive company that exports more than 60% of its production.

The head of Fux’s board of directors, István Barkóczi said that in addition to this investment, the company plans to purchase production machines worth almost HUF 1 billion.

Fux had HUF 29 billion revenue last year, public records show.