Meth invests EUR 12.8m in Hungary

Meth Electric Transformers Kft., specializing in the production of single- and three-phase low and medium voltage transformers, is strengthening its market position with a new investment in Hungary. The company is allocating €12.78 million to expand its plant in Nagykanizsa (south-western part of the country). Founded in 2014, Meth Electric Transformers Kft. is a company of Italian origin and is currently a key player in the production of such transformers. Its headquarters and one of its production plants are located in Nagykanizsa. In recent years, the company's growth has been driven by increasing demand in renewable energy, industrial automation, and other segments of the electrical industry. Production will commence in a new hall located in the NIPÜF industrial park in Nagykanizsa, which, in addition to manufacturing space, will be equipped with product testing laboratories. The project will create several dozen new jobs, and the company also declares cooperation with domestic suppliers, actively participating in supplier development programs run by the Hungarian agency HIPA