HUF 2 Bn Investment with EU Funding in Nagytarcsa

Promatech Célgépgyártó [‘Target Machine Production’] Ltd. is building a 3,800 square-meter hall at its Nagytarcsa site, just east of Budapest, with a greenfield investment of HUF 1.952 billion, the company told the state news agency MTI.

As part of the investment, financed half and half by the company's own and EU funds, new automated metalworking machines will be purchased and solar panels will be installed. The non-reimbursable EU funding for the development won by the company is HUF 975.66 million.

As part of the tender, two automated metalworking stations will be installed in the production hall. The equipment will ensure fully automatic production of medium and large series of machined metal and plastic parts, significantly increasing efficiency and capacity.

A 50-kilowatt solar panel system will be installed at the site, which is expected to reduce energy costs.

The investment is expected to be completed by the end of August 2023.

The company, founded in 2010, specializes in industrial automation, robot technology, production optimization and the design of customized machines.

In 2021, the company's net sales increased to HUF 2.048 billion from HUF 1.507 billion in the previous year, while operating profit rose from HUF 141.345 million to HUF 308.579 million in the same period.