Duocor inaugurated a 3.2 billion forint (EUR 9.6m) expansion at its base in Makó, in South-Eastern Hungary.
Duocor added to production capacity for institutional furniture, creating 65 jobs. The government supported the investment with a 635 million forint grant.
Germany is the most important investor in Hungary, with 6,000 German companies employing 300,000 Hungarians. The government signed strategic cooperation agreements with 101 German companies in the past five and a half years as a result of which 2,000 billion forints worth of investment was carried out in Hungary.
Duocor owner Michael Stegner said the new production hall, outfitted with the latest technology, as well as the company’s well-trained staff, would allow the company to meet new challenges. Duocor had revenue of 18.4 million euros last year, public records show. It employed a staff of 347. Duocor is a unit of Germany’s ASS group, a family-owned business that supplies public institutions with furniture.