Fastron to Increase Capacity at Hungarian Plant

Germany’s Fastron, a manufacturer of inductive components and precision sheet metal parts, is investing HUF 500 million in expanding production at its unit in Hungary, Fastron Hungaria managing director Gabor Szucs has told MTI.

The investment, supported by HUF 115 million in European Union funding, will boost capacity 10-15%, Szucs said. Fastron Hungaria has committed to hire ten more staff over the next five years. About 500 people work at the company's base in Tolna (SW Hungary) at present. Fastron expects to close 2011 with revenue of more than HUF 5 billion, up from over HUF 4.5 billion in 2010.