Business
Possible Euro 10-15 mln investment for Győr
U.S.-based tool manufacturing giant Kennametal Inc. is planning on a major investment in Hungary, the Czech Republic or Poland, Slovakian and Polish newspapers reported. The company is eyeing Győr as a potential location for the project, according to Sales Director György Rábel of Kennametal Hungaria Kft, a local trading subsidiary. The value of the investment is estimated at Euro 10 million-15 million by the Slovak Spectator, which could go up to Euro 50 million later, according to the Warsaw Business Journal. Present in Hungary since the 1970s, Kennametal is currently ranked third in terms of market share. The company posted Ft 700 million in revenues last year. (Vg 9) P.P.
