Alumetal plans production in Hungary

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Aluminum products maker Alumetal plans to launch a factory in Hungary, the company’s CEO Szymon Adamczyk was quoted as saying by the Polish Press Agency. The firm wants to obtain a PLN 30-35 million EU subsidy for the purpose.

In Q3 2014 Alumetal plans to buy land for the production plant, Adamczyk said at the company’s stock exchange debut. Production capacity will grow from 165,000 to 210,000 metric tons annually, he said.

The investment will be financed both from the company’s own fund and with a subsidy from the EU. Alumetal is not interested in issuing new shares, Adamczyk said.

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