Grundfos to set up fourth Hungarian plant

Denmark’s Grundfos, one of the world's leading pump manufacturers, is to build its fourth Hungarian pump factory in Székesfehérvár (60 kilometres west of Budapest) in a HUF 4 billion (EUR 13.46 m) green-field investment.

The project is to be completed in 12 months, the financial web site portfolio.hu quotes local business daily Napi Gazdaság.

The new facility, a 15,000-square metre production hall, will be built in the Sóstó Industrial Park, adjacent to the company’s existing plant. Grundfos will manufacture giant pumps there for sewage and flood protection systems, dams, reservoirs and cooling systems in nuclear plants. The company aims to sell these products not only in Europe but also in Russia and Korea.

The new facility will create 350 new jobs. The R&D department alone will hire 50-60 engineers. Grundfos plans to spend further HUF 4-5 billion on new equipment and the introduction of new products by 2015.

As portfolio.hu notes, Grundfos currently operates three plants in Hungary, manufacturing on 65,000 square metres with a nearly 2,000-strong headcount. The company’s net revenues amounted to almost HUF 90 billion in 2010 and it surpassed the HUF 100 bn mark last year.