Videoton invest in capacity expansion
With a total investment budget of EUR 2.4 million (HUF 860 million), Videoton is looking to expand the production capacity at its plant in Stara Zagora, Bulgaria.
The Ministry of Foreign Affairs and Trade of Hungary and HEPA Hungarian Export Promotion Agency has launched a program to support the foreign market expansion of Hungarian corporations. Within the framework of this program, Videoton successfully applied for a grant to modernise its plant in Stara Zagora, Bulgaria, aiming to almost double its production capacity.
As a result of the successful application, 50% of the investment will be implemented within the framework of the Hungarian Government's Foreign Market Growth Support Scheme.
The electronics manufacturer states in an update that the complete development idea – if fully realised – including necessary building extensions and modernisation, could result in further investments of similar value.
Ottó Sinkó, Co-CEO of Videoton, says in a press release that the the goal of the investment is to realise the production of a similar standard to the Videoton EAS production facility in Székesfehérvár, Hungary.