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American automobile interior maker Eagle Ottawa and Hungarian city Szolnok Mayor Ferenc Szalay signed a contract on a HUF 9 billion (US$33 million) expansion investment at the Hungarian base of the company in Szolnok (central Hungary), Hungarian news agency MTI reported on February 27.
Eagle Ottawa announced two weeks earlier that it would double capacity and expand the product palette at the base over two years. The expansion is expected to create 500 additional jobs at full capacity.
Eagle Ottawa Hungary had net income of HUF 5.8 billion (US$21 million) on revenue of HUF 26.9 billion (US$98 million) in its 2012/13 business year, Hungarian news agency MTI said citing public records. Most revenue came from exports.