METYX wins funding for Hungarian facility expansion

Hungarian Investment Promotion Agency announces support for an investment project to expand METYX Hungary.

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METYX Group (Istanbul, Turkey) has concluded discussions with the Hungarian Investment Promotion Agency (HIPA) and secured a 50% matched government funded incentive package to support a multimillion euro investment project to expand METYX Hungary Kft. 

The combined investment funds will be used to expand the existing facilities at the Kaposvár site over the next five years, to increase production capacity for knitting glass and carbon fibre textiles and to expand its fabric and core kitting service.

At a press conference in Budapest on Feb. 7, 2018 the formal announcement of this investment agreement was made by Péter Szijjártó, the Hungarian Minister of Foreign Affairs and Attila Gelencsér, Kaposvár’s parliamentary representative in Budapest.

Uğur Üstünel, co-director of METYX Group says, “With the new investments, the total annual capacity at METYX Hungary will increase from 3000 to 8000 tons for technical fabrics alone, along with an expanded glass and core kit cutting service.”