Gum-Tech Ltd., a company based in Cegléd, SE of Budapest, has expanded its capacity with a rubber products production line with an investment of about HUF 340 million, the company told the state news agency MTI.
According to the company's statement, the branch was developed with the help of the HUF 170 million EU support won in the Economic Development and Innovation Operational Program (Ginop).
Thanks to the grant, they have acquired a custom-designed, fully automated Puzzle Mat 3D rubber product manufacturing line, which is expected to increase the company's production capacity by three to four times, while halving the amount of waste generated during production.
The new machine set-up will enable them to produce finished products faster and to shorter deadlines, which is crucial for larger orders.
The multi-unit production line uses secondary raw materials for recycling to make the products.
Thanks to the investment, the company will be able to safeguard 16 jobs and create two more.
The company has been manufacturing and marketing rubber products since 1995. Their most popular products are their safety playground tiles, which are sold mainly in Germany and neighboring countries. In addition to playgrounds, their products are also used in sports and equestrian applications.
According to publicly available company data, the net sales revenue of Gum-Tech Ltd. was around HUF 343 million in 2019 and close to HUF 738 million in the 2020 financial year. The company's profit after tax was nearly HUF 26 million in 2019 and HUF 134 million in 2020.
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