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Metyx secures 50% investment to expand company

Ugur Üstünel, co-director of Metyx Group, speaking at a press conference in Budapest.

Textile company the Metyx Group says that it has received a 50% matched incentive package funded by the Hungarian Investment Promotion Agency (HIPA) to expand its Hungarian operations, Metyx Hungary Kft.

 The combined investment funds will be used to expand the existing facilities at a site in Kaposvár, a city in the southwestern part of Hungary, over the next five years, increasing its production capacity for weaving glass and carbon fiber textiles and expanding its fabric and core kitting service.

 Metyx Hungary employs 155 people and currently operates four production lines, with three additional lines being installed in 2018. With the new investments, the total annual capacity at Metyx Hungary will reportedly increase from 3000 to 8000 tons for technical fabrics, along with an expanded glass and core kit cutting service. The company expects the numbers of employees in Hungary to reach 200 by the end of this year, with additional people needed by the end of 2020.

Metyx Hungary has 15,000 m2 of covered factory space and 67,000 n2 open space currently operational, which is only 35% of the 230,000 m2 former North American Bus Industries (NABI) production site acquired by Metyx in 2013, so the site has space for this planned expansion and further growth in the future, the company said.

Business growth

‘We look forward to working closely with HIPA and other Hungarian government agencies going forward to make our expansion plans a reality,’ said Ugur Üstünel, co-director of Metyx Group. ‘Being located in central Europe, Metyx Hungary is strategically very important to enable us to continue business growth across the EU market and meet customer demands.’

Metyx Hungary employs 155 people and currently operates four production lines, with three additional lines being installed in 2018. With the new investments, the total annual capacity at Metyx Hungary will reportedly increase from 3000 to 8000 tons for technical fabrics, along with an expanded glass and core kit cutting service. The company expects the numbers of employees in Hungary to reach 200 by the end of this year, with additional people needed by the end of 2020.

 The fabrics and kits manufactured by Metyx Hungary are aimed at producers of composite parts used building and construction, boatbuilding, automotive, transportation and wind energy.

This story is reprinted from material from Metyxwith editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.

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This project has received funding from the European Union Seventh Framework Programme (FP7/2007-2013) under grant agreement n [310187].